Royal Canadian Mint Chief Executive Officer (CEO) Sandra Hanington suddenly announced her resignation earlier this week after serving only three years of a five-year term at the helm of the Crown corporation.
In a statement posted to the Mint’s website, Hanington said she will leave her “tremendous but also highly demanding” position effective July 1, citing the need to find a “balance” between her personal and professional lives. The decision comes on the heels of the Mint winning its largest foreign single denomination circulation coining contract and making a $93.2 million dividend payment to the federal government.
“After considerable thought and reflection, I am confident the timing of my decision is right for the corporation and for me,” Hanington said. “This experience has been tremendous but also highly demanding. As I move on to the next stage of my career, I hope to attain that elusive balance so many seek in their professional and personal lives.”
On the recommendation of the Mint’s board of directors, Finance Minister Bill Morneau has confirmed Chief Financial Officer and Vice-President of Finance and Administration Jennifer Camelon will serve as interim president and CEO until the federal government appoints a permanent replacement through an open and transparent selection process.
“Sandra Hanington has made important contributions to the Royal Canadian Mint, and I highly value her commitment to good governance, innovation and sustainability,” said Morneau. “I wish her well as she and her family embark on this new chapter, and thank her for commitment to ensuring a seamless transition.”
Hanington was appointed as master of the Mint by the former Conservative government in February 2015, since which time she has commuted from her home in Toronto to Ottawa at her own expense, according to a Canadian Press story published by Teresa Wright.
Yesterday, Morneau also announced the five-year appointment of Phyllis Clark as chairperson of the Mint’s board of directors. Clark is currently serving on the board of TEC Edmonton, the Edmonton Airport Advisory Board and the AMA Edmonton Regional Advisory and Insurance Boards. She was previously on the board of directors for the Bank of Canada, the vice-president (finance and administration) and chief financial officer at the University of Alberta, and vice-president (finance and administration) at York University.
“I am pleased to announce the appointment of Phyllis Clark as Chairperson of the Board of Directors at the Royal Canadian Mint,” said Morneau. “Her previous board experience, in addition to her considerable financial and administrative experience, will be of great benefit during her tenure at the Mint.”