Madison Pacific Properties Announces Board Changes
In an important announcement, Madison Pacific Properties Inc. (TSX: MPC, TSX: MPC-C.TO) has revealed changes to its Board of Directors that reflect its ongoing commitment to strong governance and leadership. The Vancouver-based real estate company is making strategic adjustments with the upcoming resignation of two long-standing board members.
Departing Directors
Mark Elliott, a dedicated member of the Board, will conclude his tenure effective September 30. With over twelve years of service, Mr. Elliott has played a pivotal role in the company, also acting as Chairman of the Audit Committee for nine of those years. His insights and dedication have significantly shaped the governance and growth trajectory of Madison Pacific.
Jonathan Rees will also leave the Board on the same date, marking over six years of committed service. The company is immensely grateful to both Mr. Elliott and Mr. Rees for their invaluable contributions and leadership throughout their terms.
Welcoming New Leadership
In an effort to bolster its leadership team, Madison Pacific is pleased to appoint Alistair Duncan, Jr. and Robert Wiens as new Board members effective September 30. Both individuals bring a wealth of experience in corporate governance and strategic development, enhancing the Board's ability to navigate challenges and capitalize on opportunities in the real estate sector.
Experience of Alistair Duncan, Jr.
Alistair Duncan comes with a robust background in leadership roles. He currently serves as the President and CEO of viDA Therapeutics Inc., a Vancouver-based biotech firm. Before this, Mr. Duncan was the co-founder and President of Chromos Molecular Systems Inc., demonstrating his expertise in the biotech landscape. His prior experience as a Principal with Ernst & Young LLP further emphasizes his strong finance and strategic acumen.
Robert Wiens’s Management Expertise
Robert Wiens brings over three decades of executive management experience to the team. He has held key positions such as Chief Financial Officer at D-Wave Systems and also served as CEO of FACS Records Centre Inc. His vast experience includes being a Managing Partner at Arthur Andersen & Co.'s Vancouver office. Mr. Wiens is recognized with several professional distinctions, including membership and fellowship in the Chartered Professional Accountants of British Columbia.
Familiarity with Company Operations
Both Mr. Duncan and Mr. Wiens are well-acquainted with the business dynamics of Madison Pacific. Prior to the privatization of Metro Vancouver Properties Corp. (MVP) in 2024, they both served on its Board. This familiarity will aid in their transition and ability to contribute effectively as Directors of Madison Pacific.
Exciting Future Ahead
The Board of Madison Pacific looks forward to the strategic insights and stewardship that Mr. Duncan and Mr. Wiens will provide in this new chapter of leadership. Their appointment reflects the company's desire to continue driving growth and operational excellence within the real estate sector.
Contact Information
If you have inquiries, you can reach out to:
Mr. Dino Di Marco
President & CEO
(604) 732-6540
Ms. Bernice Yip
Chief Financial Officer
(604) 732-6540
Frequently Asked Questions
Who are the new members of Madison Pacific's Board of Directors?
Alistair Duncan, Jr. and Robert Wiens have been appointed as new Board members.
When will the new Board members begin their roles?
Both will officially join the Board effective September 30.
What positions did Mark Elliott and Jonathan Rees hold?
Mark Elliott was a long-time Board member and Chairman of the Audit Committee, while Jonathan Rees served for over six years.
What is Alistair Duncan's background?
He is the President and CEO of viDA Therapeutics and has extensive experience in corporate leadership.
What experience does Robert Wiens bring to the Board?
He has 30 years of executive management experience, including roles in major companies like D-Wave Systems and Arthur Andersen.
