Ed Clark to be Named New LCBO Chair Ahead of Marijuana Sales Launch

Article by Mike Crawley, CBC News

Ed Clark to be named new LCBO chair ahead of marijuana sales launch Government, industry sources tell CBC News that appointment will be announced Thursday By Mike Crawley, CBC News. Ed Clark is already serving as the premier's business adviser and chaired Wynne's advisory council on government assets. He is the former president and CEO of TD Bank Group. (Marta Iwanek/The Canadian Press)

Ontario Premier Kathleen Wynne’s go-to business adviser will be named the new chairman of the LCBO Thursday, with the agency poised to oversee the retailing of cannabis in the province.

CBC News has learned that Ed Clark is to be nominated as chair of the LCBO’s board of directors. Clark spent 12 years as president and CEO of TD Bank Group and has more recently been central to some of the Wynne’s government’s biggest policy decisions.

A panel led by Clark advised the Liberals to privatize Hydro One, only months after initially recommending keeping the transmission utility in the government’s hands. Clark’s panel also provided the report that led to the sale of beer and wine in grocery stores.

Clark was appointed as the premier’s business adviser in June 2015. He is currently leading Ontario’s bid to woo Amazon’s new headquarters to the province. A government source said Clark will retain both roles and his compensation as LCBO chair will be a symbolic $1 a year.

The LCBO board supervises the agency’s business affairs and draws up its strategic plan. Chairing that will be Clark’s role, while day-to-day operations are managed by the agency’s president and CEO.

The post means that Clark will have a strategic planning role in the new Ontario Cannabis Retail Corp., the marijuana sales agency that will be run as a subsidiary of the LCBO. The agency will be the sole legal retailer of recreational marijuana in the province. It is to have 40 storefronts and an online sales system open by July 1, when pot is to be legalized across Canada.

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One comment

  1. Another old boy Liberal to help with Wynne’s tyrannical monopolization of Cannabis here in Ontario. They need to include private retailers as Alberta, B.C and Saskatchewan have already stated. No one asked for Kathleen DrugDealer101 and her commerical, overpriced, tainted crap weed will only point intelligent people to the free market where quality and care abound. I hope all the newbies with their Cannabis medical licenses in hand, which they had to pay for, realize just how serious and damaging this unprecedented takeover actually is. ~SUPPORT CRAFT CANNABIS~

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