Canada Development Investment Corporation is a federal Crown corporation that manages certain commercial and equity holdings of the Government of Canada. Canada Development Investment Corporation’s primary objective is to carry out its activities in the best interests of Canada, operating in a commercial manner. The Corporation reports to Parliament through the Minister of Finance.
The Canada Development Investment Corporation has three wholly-owned subsidiaries: Canada Hibernia Holding Corporation, Canada Eldor Incorporated, and Canada TMP Finance Ltd. Canada Hibernia Holding Corporation owns and manages the federal working interest in the existing Hibernia offshore oil development project. Canada Eldor Incorporated has no operations, but has responsibility for servicing liabilities, chiefly arising from the 1988 agreement of purchase and sale with Cameco Inc. Canada TMP Finance Ltd. is the parent of Trans Mountain Corporation which controls and manages the Trans Mountain pipeline and related assets. The Canada Development Investment Corporation is also currently acting as Canada’s agent in a process to divest Ridley Terminals Incorporated, a Crown corporation which reports to Parliament through the Minister of Transport.
The Chairperson is responsible for the effective operation of the Board. Working closely with senior officers of the Corporation and the boards of its wholly-owned subsidiaries, the Chairperson is dedicated to the good governance and oversight of the Canada Development Investment Corporation and its subsidiaries; ensuring effective relations with the Minister of Finance, Parliament, other stakeholders and the public; and providing advice and guidance as required. This position involves balancing both public policy and business considerations in a decision-making environment that is complex and fluid.