Ontario Nominates Ed Clark as New LCBO Board Chair
Respected Business Leader to Help Strengthen Retail Focus and Launch New Subsidiary
Charles Sousa, Minister of Finance, has nominated Ed Clark as the new Chair of the Liquor Control Board of Ontario (LCBO), subject to review by the Standing Committee on Government Agencies and confirmation by the Lieutenant Governor in Council.
Mr. Clark is ideally positioned to help lead the LCBO through this period of transition, growth and development, particularly as it further strengthens its focus on customer experience, expanded retail initiatives and the launch of its new subsidiary, the Ontario Cannabis Retail Corporation. He has asked that his compensation as the new Chair be set at one dollar a year.
Mr. Clark served as Group President and Chief Executive Officer of TD Bank Group from 2002 until November 2014. During that time, he oversaw a pronounced focus on retail operations and customer relations that saw TD grow to become the country's second largest bank with global brand recognition.
He currently serves Premier Kathleen Wynne as Business Advisor and also served as Chair of the Premier's Advisory Council on Government Assets where he shepherded significant policy reforms to the alcohol beverage sector and gained in-depth understanding of the LCBO's operations. Mr. Clark will retain his responsibilities as the Premier's Business Advisor, continuing to offer advice on key issues including the preservation and growth of jobs in Ontario's steel industry and the Amazon HQ2 bid.
Mr. Clark holds a BA from the University of Toronto, and an MA and Doctorate in Economics from Harvard University. He has received honorary degrees from Mount Allison University, Queen's University, Western University, University of Toronto, York University and Ryerson University.
The government thanks Penny Lipsett for serving as Acting Chair and helping to establish the LCBO as a more customer-focused and competitive retailer.
- Mr. Clark was made an Officer of the Order of Canada in 2010 and inducted into the Canadian Business Hall of Fame in 2016.
- Mr. Clark received the Egale Leadership Award for his support of the lesbian, gay, bisexual, transgender (LGBT) communities, and the inaugural Catalyst Canada Honour for having made a critical and visible difference to women’s advancement.
- The LCBO’s dividend to Ontario in 2016-17 was $2.06 billion, 6.5 per cent higher than the previous year’s dividend and $30 million more than planned.
- In response to the 2014 report from the Premier’s Advisory Council on Government Assets, the LCBO successfully launched a new e-commerce platform through LCBO.com, with first-year sales of $4.4 million, and rolled out beer, wine and cider to grocery stores, which accounted for $65 million in sales in 2016-17.
“Mr. Clark is an accomplished and well-respected business leader with a proven track record of creating financially successful organizations based on highly effective retail and customer experience. His unique blend of private sector success and public policy expertise will help guide the LCBO through an unprecedented period of change and innovation. I have had the pleasure of working closely with him on a number of files and look forward to his continuing leadership.”
“I am delighted to be selected as the next Chair of the LCBO. Having recommended three years ago that it remain publicly owned, I am enthusiastic for the chance to help further its customer-friendly focus and oversee its growth and development, as well as help carefully manage the roll-out of the new standalone cannabis stores.”