Ian Bruce

Board Chair

Personal Information

64 | Independent 

Calgary, Alberta, Canada 

Director since: 2012 

Citizenship: Canadian


Ian brings a strong finance and investment banking background as well as board, executive, energy sector and leadership experience to the Cameco board. He also chairs the audit committee of one other public company.

Expertise

  • CEO experience
  • Finance
  • Investment banking
  • Mergers and acquisitions
  • Risk management

Biography

As of April 6, 2018

Ian Bruce is the former president and CEO of Peters & Co. Limited, an independent investment dealer. He has more than 30 years of experience in investment banking with specialization in corporate finance and mergers and acquisitions, predominantly in the oil and gas industry.

Ian is a fellow of the Chartered Professional Accountants of Alberta, a recognized Specialist in Valuation under Canadian CPA rules, and a chartered business valuator. He is a past member of the Expert Panel on Securities Regulation for the Minister of Finance of Canada. Ian is also a past board member and chair of the Investment Industry Association of Canada.

Ian is a director of the private company, Production Plus Energy Services Inc. (formerly TriAxon Oil Corp.)

Board and Committee Membership and Attendance

As of December 31, 2017

    2017 Attendance
2017 Voting Results Board and Committee Membership Regular Special Overall
88.3% for Board of directors 8 of 8 1 of 1 100%
11.7% withheld Audit and finance 6 of 6 2 of 2 100%
  Human resources and compensation (chair) 5 of 5   100%

Other Public Company Boards in the Past Five Years
and Current Committee Memberships

Cona Resources Ltd. (TSX) Audit (chair), Compensation, Technical 2014 to present
Logan International Inc. (TSX)   2011 to 2016
Hardy Oil & Gas plc (LSE)   2008 to 2012

Ian was director of Laricina Energy Limited (Laricina), a junior oil sands private company, from 2013 to 2017. Laricina was under Companies’ Creditors Arrangement Act (Canada) (CCAA) protection from March 26, 2015 until February 1, 2016, when it exited from CCAA protection. Its restructuring plan was approved by the Alberta Court of Queen’s Bench on July 22, 2015.

Securities Held

As of December 31, 2017

Year Cameco Shares DSUs Total Shares
 and DSUs
Total Value of
Shares and DSUs
Multiple of 2017
Annual Retainer
Ownership Guidance Compliance1
2017 75,000 38,446 113,446 $ 1,317,107 6.6x 11.7x
2016 75,000 28,284 103,284 $ 1,450,109 3.5x2 6.2x2
Change –– 10,162 10,162 $ (133,002)    

1.  For share ownership compliance, Ian's shares and DSUs held at December 31, 2017 are valued at $2,340,001.

2.  Represents his level of compliance with the board chair retainer, which is $375,000.