Ian Bruce

Board Chair

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

  • Key Skills and Experience

    • Executive leadership and strategy
    • Financial acumen
    • Business growth and transformation
    • Investor relations
    • Risk governance

  • 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 13, 2023

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.

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 and compensation committees of other public-company boards. Ian became board chair of MEG Energy Corp. in 2020, and serves as board chair and a director of the private company, Qube Technologies Inc. He is the audit committee chair and board member of the Opportunity Calgary Investment Fund.

Board and Committee Membership and Attendance

As of December 31, 2022

    2022 Attendance
2022 Voting Results Board and Committee Membership Regular Special Overall
96.6% votes for Board Chair * 7 of 7 7 of 7 100%

* Ian is a member of all committees and he attended all committee meetings in 2022.

Other Public Company Boards in the Past Five Years

MEG Energy Corp. (TSX)   2019 to present
Cona Resources Ltd.* (TSX)   2014 to 2018

* Ian was a director of Northern Blizzard Resources Inc., a predecessor company to Cona Resources Inc., from 2011 to 2014, and continued to serve as a director from 2014 to 2018 after it changed its name to Cona Resources Ltd. and became a public company in 2014.

Securities Held

As of December 31, 2022

Year Cameco Shares DSUs Total Shares
 and DSUs		 Market Value of
Shares and DSUs1		 Multiple of 2022
Annual Retainer
(at market value)		 Share Ownership
Guideline Compliant2
2022 75,000 93,663 168,663 $ 5,176,273 13.8x Yes
2021 75,000 87,466 162,466 $ 4,480,812    
Change –– 6,197 6,197 $    695,461    

1  Based on total holdings calculated using $30.69 for 2022 and $27.58 for 2021, the closing prices of Cameco shares on the last trading day of the year on the TSX.
2  For evaluating compliance with Cameco’s share ownership guidelines, Ian’s shares and DSUs held at December 31, 2022 are valued at $5,185,316 and represent 13.8x the board chair retainer of $375,000