Crisis leadership from Canada’s top 40 under 40.
canada’s top 40 under 40 2020 honourees
When the world stopped in March to try to slow the spread of the COVID-19 pandemic, the selection process for Canada’s Top 40 Under 40 was well under way. Nominations and submissions were in and due diligence had just started. The question quickly turned to whether it was relevant or even appropriate to be working on an awards program celebrating leadership. Just as quickly, it became clear the answer was yes. Leadership is more important than ever when you’re facing a crisis.
“We saw superlative responses to the pandemic, both in terms of taking care of their employees and pivoting their organizations and contributing to their communities,” says Jeff Freeborough, managing partner, Toronto, Caldwell Partners, creator of Canada’s Top 40 Under 40. “This year’s honourees are leaders not just in their organizations but in their communities. One of the key elements of the award is social responsibility, and this year’s honourees really stepped up.”
More specifically, they took charge. “We asked honourees questions about how they were dealing with the pandemic,” says John Hughes, senior vice-president, private enterprise, at MNP, Canada’s largest accounting tax and business consulting firm serving mid- market companies and Top 40 presenting partner. “Not surprisingly, they were taking the bull by the horns.
Figuring out solutions on the fly to keep their people, customers and channel partners safe and to continue to follow through on the promise of their organizations.”
Carole Saab was appointed CEO of the Federation of Canadian Municipalities (FCM) right in the thick of the crisis. The organization was adapting to remote work and pivoting to pandemic-response mode to help municipalities meet the health and safety needs of their communities while also addressing the mounting financial crisis in these communities. Saab and her team jumped into action creating resources, sharing best practices and making sure municipalities had access to the information they needed. FCM conducted a national research report to quantify the scale of the losses and lobbied the federal and provincial governments. Its advocacy helped garner $7.6 billion for municipalities. “COVID has impacted every single aspect of our sector, organization and work,” says Saab. “It is a moment and experience like no other.”
Since its inception in 1995, Top 40 has recognized more than 800 outstanding Canadians who have gone on to establish themselves as difference- makers, creative thinkers and performance drivers both here in Canada and globally. A few general themes have emerged since the relaunch of Top 40 four years ago, chief among them the growing diversity of nominees and honourees. They come from across the country, from across industries and sectors and from varied cultural backgrounds. There has been a steady climb of people of colour among nominees and honourees. “While there is a lot of work to be done when it comes to diversity, we are starting to see more representation at senior levels and this is filtering through to Canada’s Top 40 Under 40,” says Freeborough.
Another consistent theme: many honourees are first-generation Canadians born to immigrant parents making their mark in Canada. Kosi Stobbs, CEO of Property Owl Group of Companies, and Jas Hothi, national enterprise risk leader for EY Canada, are among this group of honourees doing just that.
This year’s cohort also reflects the ongoing trend of Canada’s growing entrepreneurship and innovation. “This is a testament to Canada’s growing cadre of entrepreneurs and the support ecosystem that has evolved enabling companies to scale and become market leaders,” says Freeborough.
It’s difficult to talk about any industry or sector without talking about technology and its impact, particularly during the pandemic, which has proven to be the biggest remote-work experiment ever. “If you look at Top 40 honourees such as Sam Masri, COO of SAP Canada, a pure technology company that makes enterprise resource planning systems, or Lyla Garzouzi, vice-president, distribution, at Hydro One, or Halazon Ghassan, founder and CEO of EMERGE Commerce, they are capitalizing on data analytics and using technology to better understand customers and be more efficient,” says Hughes. Rohan Mahimker and Alex Peters, co- honourees and co- founders of Prodigy Education, an online educational math game, are establishing Canada’s presence in the burgeoning global edtech sector.
Of course, innovation extends beyond technology. Joelle Faulkner is founder and CEO of Area One Farms Ltd., which provides financing, private equity and growth capital to the farming community. “Many of these businesses are asset- rich because farms have been in families for generations,” says Hughes. “What she’s doing uniquely to help finance transitions and expansions and how she supported farmers through the pandemic to help keep grocery stores open and food on the table is an example of the innovative spirit of Top 40 honourees.”
Succession is another trend emerging among Top 40 honourees, as more of the next generation are starting to work in or on family businesses and taking them to the next level of growth. “Andrew Oliver, president and CEO of restaurant and event company Oliver & Bonacini Hospitality, has reinvented the company and moved it into the event and hospitality space to position it for future growth,” says Hughes. “Through the pandemic, the industry has had significant challenges, but he pivoted quickly to make sure it comes out the other side.”