Laurentian names Rania Llewellyn as its next CEO; first woman to head major Canadian bank: Laurentian Bank of Canada has chosen Rania Llewellyn as its next chief executive officer, making her the first woman to lead a major Canadian-based bank. Ms. Llewellyn formally starts her role on Oct. 30 after a 26-year career at Bank of Nova Scotia, where she most recently served as executive vice-president of global business payments. (James Bradshaw)
Hot tech market leads to upsized IPO for Toronto e-commerce company Pivotree: Toronto e-commerce company Pivotree Inc. has almost doubled the size of its initial public offering in response to heavy demand from institutional investors who have flocked this year to Canadian tech stocks and online commerce providers. (Sean Silcoff)
Cogeco boards reject sweetened Rogers-Altice takeover bid: The boards of Cogeco Inc. and subsidiary Cogeco Communications Inc. have rejected a sweetened takeover bid worth $11.1-billion from Rogers Communications Inc. and New York-based cable company Altice USA Inc. (Alexandra Posadzki)
HBC plans store redevelopments to ‘increase the value’ of its commercial real estate: Hudson’s Bay Co. is planning to “modernize” its department store properties by redeveloping some of the vast store buildings into mixed-use spaces that could including offices, other retailers in addition to the Bay, and even residential space. (Susan Krashinsky Robertson)
With auto industry at a crossroads, Magna taps company veteran as next CEO: Magna International Inc. announced president Seetarama (Swamy) Kotagiri will take the wheel as chief executive in January, replacing Don Walker, who has run the world’s third largest auto parts maker for 22 years. The incoming boss at Aurora, Ont.-based Magna is a 51-year-old engineer with 12 patents to his name. (Andrew Willis)
U.S. Justice Department files landmark antitrust case against Google: The U.S. Justice Department on Tuesday sued Google for antitrust violations, alleging that it abused its dominance in online search and advertising to stifle competition and harm consumers. (Associated Press)
Opinion: How companies can improve diversity on boards: Companies often complain they don’t know where to find women and BIPOC candidates. It’s curious because there’s no shortage of qualified contenders. The problem isn’t that diverse aspirants lack credentials or relevant experience, it’s that they’re excluded because of nebulous notions of who fits, and who doesn’t, in the boardroom. (Rita Trichur)
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