VANCOUVER, British Columbia, Canada — Swiss Water Decaffeinated Coffee Inc. has announced that Nancy McKenzie has been appointed to the Board of Directors of the Company, to fill the vacancy created by the retirement of long-time Board member Diane Fulton, who resigned effective upon Ms. McKenzie’s appointment. Nancy McKenzie is a former senior financial executive with extensive experience in industrial manufacturing and service businesses, in addition to spending some time in the consumer branded and private label foods sector.
Her experience also includes large-scale capital project oversight of manufacturing, office and infrastructure facilities and industrial equipment from her experience in the marine and shipbuilding industry. She is currently Chair of the Board of Governors at the University of British Columbia, serves on the Board of Coast Capital Savings Federal Credit Union as Vice Chair, Chair of the Risk Committee and member of the Audit and Finance committee, and is an advisory Board member for a privately owned manufacturing business. She is a fellow of the Chartered Professional Accountants of BC, obtained her director’s designation (ICD.D) from the Institute of Corporate Directors, and holds an Honours Bachelor of Business Administration from Wilfrid Laurier University (Waterloo).
Diane Fulton has retired from the Board of Swiss Water after serving twelve years as a director. She was the Chair of The Corporate Governance and Compensation Committee and a member of the Audit Committee and for most of her tenure and recently served as interim Chair during the 2020 Board Chair transition. The Board wishes to thank Ms. Fulton for her strong oversight, risk management, safety focus and financial guidance during her term on the Board of the Company.
The Company also announced that Rick Mahler will not stand for re-election at the Company’s 2021 Annual General Meeting (and will retire following the AGM). Mr. Mahler is currently serving as Chair of Swiss Water’s Audit Committee. In anticipation of Mr. Mahler’s departure from the Board, the Company announced its intention to nominate Alan Wallace for election to the Board at the June AGM.
Mr. Wallace is currently CEO of Peloton Advisors Inc. providing advisory services in M&A, financial and strategic transactions. Mr. Wallace has worked for over 30 years in corporate finance including as Vice Chairman of a major Canadian investment bank and brings significant experience relating to financing and corporate strategic planning. Throughout his career, he has worked with a number of companies in industries similar and adjacent to Swiss Water’s business, including distribution, processing plants, international operations and branding. Many of these organizations provide Mr. Wallace a strong overview of commodity-based businesses that are relevant to the Company. He currently serves on the Board of a diversified global producer of forest products where he is Chair of the HR Committee and serves on the Audit Committee. He also brings a knowledge of Swiss Water’s unique position in the decaffeinated coffee market through his work on earlier Swiss Water public financings. He holds a Master of Business Administration from the University of Chicago and a Bachelor of Applied Science (Mech) from the University of Toronto.
The appointments of Ms McKenzie and Mr Wallace are the culmination of a Board refreshment process that Swiss Water began in 2020.
“We cannot thank Diane and Rick enough for their contributions to Swiss Water over the years,” said Frank Dennis, President and CEO of the Company. “While it is hard to say goodbye, we are excited to be adding Nancy and soon, Alan. Their collective experience with large construction projects, financial and capital markets acumen, and strategic thinking, will be invaluable as the Company enters these next stages of growth.”
