Hopkins will become chief operations officer at Oxford—the real estate subsidiary of OneEleven’s parent, the Ontario Municipal Employees Retirement System (OMERS)—in mid-August. He will remain on the tech hub’s board and become its chair. Siri Agrell, Toronto managing director, has been named executive director, and told The Logic she will report to the board before eventually taking a seat. She said OneEleven will also adopt more features of a cohort-based accelerator, such as short-term programs delivered by experts and investor demo days, starting in the fall. The hub now has 53 member companies in Toronto, with two more scheduled to arrive shortly, up from 50 in April. (The Logic)
Talking point: The CEO’s departure follows those of four OneEleven C-suite executives between April and June. Hopkins was brought into OneEleven to spearhead its expansion beyond Toronto. In April 2018, he announced plans to open in Ottawa, Vancouver and Boston that year, and said the company was scouting for space in London and Berlin in early 2019. That expansion is now paused. The Ottawa location will close next week, and the London plans are on hold; it also did not launch in the other cities. OneEleven’s Toronto location will have to move, as well. The hub is in an office building that owner Oxford plans to redevelop as part of a $3.5-billion project that it wants to begin construction on in 2023. Agrell said OneEleven will be notified at least a year before work begins, and Oxford will help the hub “find a new location in the area.” In the meantime, OneEleven has recently made accessibility upgrades to its space, and added rooms for parenting and prayer. A podcast room is planned.