The Crown corporation’s new head spent eight years at Infrastructure Ontario, a provincial agency that manages large projects. He replaces Pierre Lavallée, the CIB’s first CEO, who departed in April. The Globe and Mail first reported in early October that Cory was set to be chosen. (The Logic, The Globe and Mail)
Talking point: The new CEO’s immediate task is to roll out the agency’s $10-billion Growth Plan, a two- to three-year strategy including broadband, clean power, and zero-emission transit. The CIB evidently already had some projects in the pipe—earlier this month, it committed a $407.5-million loan to a plan to irrigate over 200,000 extra acres of Alberta farmland. During its time without a CEO, the Crown corp. also agreed to pay for a study of a railway line between Calgary and Banff. Both decisions were made under the auspices of new chair Michael Sabia, the former pension-fund and telecom executive who announced the Growth Plan at the beginning of October alongside Infrastructure Minister Catherine McKenna and Prime Minister Justin Trudeau.