Steven Hudson, FCA, B.B.A., Chairman, Chief Executive Officer and Director
Mr. Hudson is the Chairman, Chief Executive Officer and a director of Element. He has served as Chief Executive Officer of Element since March 2011 and as director and Chairman since April 12, 2010. Mr. Hudson is a member of the Credit Committee of the Board. Mr. Hudson has previously served as Chief Executive Officer of Herbal Magic Inc. ("Herbal Magic"), a provider of commercial weight loss centres with over 270 centers in Canada. Mr. Hudson also previously served as Chief Executive Officer of BeautyFirst ("BeautyFirst") and as Chief Executive Officer of PureBeauty Salons and Boutiques Inc. ("PureBeauty"). Mr. Hudson combined these two companies to be the fourth largest beauty retailer and service provider in the United States. In addition, Mr. Hudson also previously served as Chief Executive Officer for Hair Club for Men and Women Ltd. ("Hair Club"). Mr. Hudson founded Cameron Capital and served as its Chairman. Mr. Hudson founded Newcourt in 1984 and grew it to be a worldwide leader in equipment finance before selling the Newcourt to The CIT Group, Inc. in 1999. Mr. Hudson has served as a director of Altamira e business Funds, Altamira Investment Services Inc., The Altamira Funds, The Altamira RSP Funds, CHC Helicopter Corporation, AGRA Inc. and Newcourt. Mr. Hudson holds a Bachelor of Business Administration from York University. In 1996, Mr. Hudson was named one of Canada's Top 40 Under 40.
James More, LL.B., CIM, Vice Chairman, Senior Executive Vice President, Secretary and Director
Mr. More joined Element as a Senior Executive Vice President in March 2011. He has served as a director of Element since April 12, 2010 and is a member of the Credit Committee of the Board. In 2010, Mr. More became a Managing Partner of Cameron Capital and focused on the recapitalization and corporate development of Element. In 1996, Mr. More joined CIBC World Markets, and in 1998 he became Managing Director of CIBC World Markets' Debt Capital Markets Group where he helped establish and led, over a 10-year period, an origination, structuring and placement group that was responsible for billions of dollars of public and private capital markets placements in a wide variety of industries. In 1992, Mr. More helped establish Scotia Capital Markets' securitization team, where he was responsible for the origination and structuring of term securities. Mr. More articled at the law firm of Davies Ward and Beck and was a partner at the law firm of Daniel and Associates. Mr. More holds a Bachelor of Laws degree from Osgoode Hall Law School at York University.
Bruce Smith, B.Comm., CA, President, Chief Operating Officer and Director
Mr. Smith is the President and Chief Operating Officer of Element and has served as a member of the Board since June 1, 2011 and is a member of the Credit Committee of the Board. Mr. Smith has over 20 years of financial services experience. From 2006 to 2011 Mr. Smith was the Managing Director and Senior Vice President of Vendor Finance at CIT Financial Ltd. ("CIT"), which provided financing programs to vendors of equipment in the technology, office products and commercial and industrial segments. Mr. Smith is also served as the President and General Manager of Dell Financial Services in Canada, which was a large vendor finance program between CIT and Dell, which provides financing solutions to Dell customers. Prior to this, Mr. Smith held several senior positions at Newcourt. Mr. Smith holds a Bachelor of Commerce from McMaster University and a member of the Institute of Chartered Accountants of Ontario.
Mr. Bridge is the Chairman, President and Chief Executive Officer of Kathar Enterprises Inc., a Toronto-based firm that provides corporate finance, mergers & acquisition and financial advisory services to national and international clients. From 1967 to 2006, Mr. Bridge served as a partner in the financial advisory, audit and consulting services practice at Deloitte & Touche LLP and as Executive Vice President and Director at Deloitte & Touche Corporate Finance Canada Inc. He is a Director of Blue Finance Corporation, Direct Credit Ontario Inc. and is Chairman of the International Examination Review Board for the Corporate Finance Designation (CF) for the Canadian Institute of Chartered Accountants (CICA). Mr. Bridge has been an advisor to the Equipment Lessors’ Association and the CICA’s Sub Committee on Leasing. He has lectured on taxation and leasing issues at the World Bank, the Conference Board of Canada, Queen’s University and the University of Toronto as Associate Professor of Accounting and Special Lecturer in Advanced Accounting and Finance. Mr. Bridge holds a Bachelor of Commerce degree in Finance & Accounting from the University of Toronto, a Master of Business Administration degree in Finance and Operations Research from Queen’s University, is a Fellow of the Ontario Institute of Chartered Accountants (FCA), an ICD.D designation from the Institute of Corporate Directors & Rotman School of Management and a Corporate Finance designation from the CICA. He is the author of Leases: Financial Reporting and Analysis, published by the CICA.
Navin Chandaria, Director
Mr. Chandaria is the founder, Chairman and Chief Executive Officer of Conros Corporation, which owns LePage Inc., a manufacturer and distributor in the adhesive and packaging business. He has served as a director of Element since June 1, 2010. Until its sale to Jarden Corporation, a Fortune 500 Company, Conros Corporation also owned PineMountain, a manufacturer of synthetic fire logs. Mr. Chandaria is also an investor in The BlackBerry Partners Fund, a venture capital fund focused on applications and services for the Blackberry platform and other mobile platforms.
Fraser Clarke, CA, CFA, Director
Mr. Clarke is the President and Chief Executive Officer of Herbal Magic, a position he has held since February 2011. He has served as a director of Element since April 12, 2010 and is a member of the Audit Committee of the Board. Mr. Clarke was previously President and Chief Operating Officer of Herbal Magic from February 2009 to February 2011. Mr. Clarke was President of 57146 NL & Lab Inc. from August 2007 to February 2009. From October 2002 to July 2007 Mr. Clarke was President and Chief Executive Officer of Hair Club. Prior to such role, Mr. Clarke was an Associate at CCC Investment Banking and an Associate at Ernst & Young LLP. Mr. Clarke holds a Bachelor of Commerce from Memorial University and is a designated CA and C.F.A.
Michael D. Harris, ICD.D, Director
Mr. Harris currently serves as Senior Business Advisor at Cassels Brock & Blackwell LLP, a Canadian law firm. He has served as a director of Element since April 12, 2010. Prior to joining Cassels Brock in March 2010, he was elected as the 22nd Premier Ontario Canada for successive terms (1995 to 2002) and is sought after for his advice on governance issues and government relations matters. While Premier, Mr. Harris'"Common Sense Revolution" cut taxes and reduced bureaucracy, oversaw the creation of over one million new jobs, the reduction of welfare rolls by over 650,000 and the transformation of an $11 billion budget deficit into a $3 billion budget surplus. Including his two terms as Premier Mr. Harris served a total of six terms as a member of provincial parliament. In addition to serving on the Board, Mr. Harris serves on the boards of Magna International Inc., listed on the TSX and New York Stock Exchange, Route1 Inc., listed on the TSXV, FirstService Corporation, listed on the TSX and NASDAQ, Canaccord Financial Inc., listed on the TSX and AIM, and Chartwell Seniors Housing REIT, listed on the TSX, as well as the board of Tim Horton Children's Foundation and Mount Royal University Foundation. He is also a Senior Fellow of the Fraser Institute, a leading Canadian economic, social research and education organization. Mr. Harris was among the first corporate directors in Canada to be granted the nationally and internationally recognized ICD.D certification by the Institute of Corporate Directors, the professional body representing the director community in Canada.
Pierre Lortie, BSc. Appl., P. Eng., Lic. Appl.econ., M.B.A., ICD.D, Director
Mr. Lortie is Senior Business Advisor at the law firm Fraser Milner Casgrain LLP and he has been a member of the firm since May 2006. He has served as a director of Element since August 18, 2011 and is a member of the Audit Committee of the Board. He is currently Chairman of Altair Nanotechnologies, Inc., listed on the NASDAQ, and a director of Tembec, Inc. and Canam Group Inc., both of which are listed on the TSX. Mr. Lortie was a director of Consolidated Thompson Iron Mines Ltd., listed on the TSX, from August 2009 to May 2011. Mr. Lortie also served as President of the Transition Committee of the Agglomeration of Montreal from its inception in June 2004 to the end of its mandate in December 2005. Mr. Lortie served as President and Chief Operating Officer of Bombardier Transportation, Bombardier Capital, Bombardier International, and as President of Bombardier Aerospace, Regional Aircraft. He has also served as Chairman of Canada's Royal Commission on Electoral Reform and Party Financing. He has been Chairman of the Board, President and Chief Executive Officer of Provigo Inc., President and Chief Executive Officer of the Montreal Stock Exchange and a Senior Partner of Secor Inc. Mr. Lortie received a Master of Business Administration degree with honours from the University of Chicago, a license in applied economics from the Universite catholique de Louvain, Belgium, and a Bachelor's degree in applied sciences (engineering physics) from Universite Laval, Canada. He received his certification from the Canadian Institute of Corporate Directors (ICD.D). Mr. Lortie is a member of the Order of Canada.
Stephens B. Lowden, C.A., B. Comm., Director
Mr. Lowden has over 30 years experience as a financial consultant in corporate finance, mergers and acquisitions, divestitures, process improvement, marketing, strategic planning, governance and executive compensation. He has served as a director of Element since April 12, 2010 and is a member of the Audit Committee of the Board. Currently, Mr. Lowden is a director of a number of TSX-listed companies, including The Becker Milk Company Limited, SCITI Rocs Trust, SCITI Trust and Canadian Resources Income Trust. Mr. Lowden formerly sat on the board of Waterfurnace Renewable Energy Inc., a TSX-listed company. Mr. Lowden served as Managing Partner of Ernst & Young LLP Toronto, and as Executive Partner and Vice Chairman of Sobeco Ernst & Young LLP. From 1987 to 1990, Mr. Lowden served as President of Gardiner Group Capital Limited, the merchant banking and investment holding corporation of the late George Gardiner. During this period, Mr. Lowden also served as Vice Chairman and Chief Executive Officer of Gardiner Oil and Gas Limited. Mr. Lowden is a chartered accountant and holds a bachelor of commerce from the University of Toronto.
Leslie E. Martin, Director
Mr. Martin is the founder and has held the position of Chief Executive Officer of First Lady International Corporation, a marketer and distributer of hair and accessory products since 1966. He has served as a director of Element since April 12, 2010 and is a member of the Compensation and Corporate Governance Committee of the Board. Mr. Martin is also the founder and Chief Executive Officer of Emperor (Far East) Ltd., a global producer of hair systems with operations in China and Far Eastern markets for over 30 years. Mr. Martin has also served on the board of directors of Hair Club for Men and Women, as well as BeautyFirst/PureBeauty, a U.S. chain of beauty salons.
Dr. Steven Small, D.D.S., B.Sc.D. (anesth) ICD.D, Director
Dr. Small has been the Chairman of Capital Partners Corporation, a limited market dealer and financing advisor. He has served as a director of Element since April 12, 2010 and is a member of each of the Compensation and Corporate Governance Committee and the Credit Committee of the Board. Dr. Small is a practicing anaesthesiologist and has owned his own practice since 1971. He has extensive capital investment and private equityDr. Small is a director of Knightsbridge Human Capital Solutions and Herbal Magic. He formerly was a director of MedcomSoft Inc., a TSX-listed company that develops software solutions for the health care industry. Dr. Small was a founding investor and director of Newcourt. Dr. Small holds a B.Sc.D. (anesth) and a D.D.S. from the University of Toronto. Dr. Small completed the Independent Director Program at the University of Toronto Rotman School of Management in conjunction with the Independent College of Directors.
Paul Stoyan, LLB, ICD.D, Director
Mr. Stoyan is the Chairman of Gardiner Roberts LLP, a Canadian law firm. He has served as a director of Element since April 12, 2010 and is a member of each of the Audit Committee and the Compensation and Corporate Governance Committee of the Board. Mr. Stoyan practices business law with a special emphasis on mergers and acquisitions, corporate finance and corporate governance. Mr. Stoyan has worked extensively with various companies in the technology sector and has assisted such companies in various cross-border transactions, in going public and in establishing and enforcing corporate governance regimes. Mr. Stoyan serves on the board of directors of Enghouse Systems Limited, a publicly-traded software company listed on the TSX. He is a past director of the National Ballet School of Canada, and the Canadian Centre for Ethics and Corporate Policy. Mr. Stoyan is also Past Chair of the Business Law Section of the Ontario Bar Association. Mr. Stoyan has previously served as a director of Open Text Corporation from 1998 - 2002, a publicly-traded software company listed on the NASDAQ and TSX. Mr. Stoyan holds a bachelor of laws from the University of Toronto and a bachelor of arts from the University of Toronto, where Mr. Stoyan was the Gold Medalist. Mr. Stoyan completed the Directors Program at the University of Toronto Rotman School of Management in conjunction with the Institute of Corporate Directors.