Ian Bruce

Board Chair

66 | Independent
Calgary, Alberta, Canada
Director since: 2012
Citizenship: Canadian

  • Key Skills and Experience

    • Board / corporate governance
    • Financial acumen
    • Investor relations
    • Investments / mergers and acquisitions
    • Risk oversight
  • Ian brings a strong finance and investment banking background as well as board, executive, energy sector, and leadership experience to Cameco’s board. He serves as chair of the Cameco board and is a member of each of the five board committees.

Biography

As of March 10, 2020

Ian Bruce is a corporate director. He 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 and is also a past board member and chair of the Investment Industry Association of Canada.

Prior to becoming board chair in May 2018, Ian was chair of the human resources and compensation committee. He has served on Cameco’s audit committee for his entire tenure and has also served on audit committees of other public-company boards. Ian is a director of the private company, TriAxon Oil Corp., and is also a member of its audit and compensation committees.

Board and Committee Membership and Attendance

As of December 31, 2019

    2019 Attendance
2019 Voting Results Board and Committee Membership Regular Special Overall
96.9% votes for Board Chair * 7 of 7 1 of 1 100%
3.1% votes withheld        

* Ian is a member of all committees and he attended all committee meetings in 2019.

Other Public Company Boards in the Past Five Years

MEG Energy Corp. (TSX)   June 2019 to present
Cona Resources Ltd. (TSX)   2014 to 2018
Logan International Inc. (TSX)   2011 to 2016

Securities Held

As of December 31, 2019

Year Cameco Shares DSUs Total Shares
 and DSUs
Market Value of
Shares and DSUs
Multiple of 2019
Annual Retainer
Share Ownership
Guidance Compliant1
2019 75,000 65,147 140,147 $ 1,617,296 4.3x Yes
2018 75,000 50,565 125,565 $ 1,943,746    
Change –– 14,582 14,582 ($  326,450)    

1. For evaluating compliance with Cameco’s share ownership guidelines, Ian’s shares and DSUs held at December 31, 2019 are valued at $2,699,987 and represent 7.2x the board chair retainer of $375,000.


Ian was a 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.