Ehren Cory appointed as new Canada Infrastructure Bank CEO

Cory previously served as Infrastructure Ontario's president and chief executive and prior to that, was a partner at McKinsey and Company.

The Canada Infrastructure Bank has appointed Ehren Cory as its new chief executive officer.

Cory previously served as Infrastructure Ontario's president and chief executive and prior to that, was a partner at McKinsey and Company.

The ministry of infrastructure and communities says Cory was selected because of his experience in the public and private sector and background in dealing with financing, building and managing significant projects.

Cory will be tasked with implementing the three-year, $10-billion growth plan the federal government announced in October as a way to help Canadians get back to work by creating about 60,000 jobs.

The government hopes the plan will also connect more households and small businesses to high-speed Internet, strengthen the country's agriculture sector, encourage the transition to clean power and help build a low-carbon economy.

Minister of Infrastructure and Communities Catherine McKenna says in a release that she supports Cory's appointment.

"I am pleased with the bank’s announcement of Ehren Cory as its new CEO, as he has extensive experience in getting innovative and large-scale infrastructure projects built," she says.

The government created the Canada Infrastructure Bank in 2017 to create partnerships between provincial, territorial, municipal, and Indigenous entities and leverage the private sector to build infrastructure.

Cory is replacing the bank's first CEO Pierre Lavallée, who departed the organization in the spring.

This report by The Canadian Press was first published October 29, 2020.

Tara Deschamps, The Canadian Press

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