Canada’s federal farm lender is importing its next chief executive from Export Development Canada.
Federal Agriculture Minister Marie-Claude Bibeau on Wednesday announced the appointment of Justine Hendricks, EDC’s senior vice-president and chief corporate sustainability officer since 2019, as FCC’s new CEO effective Jan. 30, 2023.
As CEO, Hendricks replaces Michael Hoffort, an FCC staffer since 1988 who was named to the chief executive post by then-ag minister Gerry Ritz in 2014 and recently announced his retirement.
“We have broken another glass ceiling with the arrival of Justine Hendricks at the head of Farm Credit Canada,” Bibeau said in a release Wednesday, referring to Hendricks’ status as FCC’s first female CEO.
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“Her skills in finance, her expertise in sustainable development and her collaborative leadership makes her an ideal choice for this position.”
Hendricks came to EDC, Canada’s federal export credit agency, as a regional vice-president in 2006 after a stint as a branch manager with RBC.
In her current post she maintained EDC’s focus on environment, social and governance principles, in part by spearheading the agency’s “Net Zero 2050” strategy — under which, by that year, greenhouse gas emissions generated by recipients of EDC financial products would be balanced by emissions removed by recipients.
“Justine has significant experience in the financial industry and in leading teams that serve exporters and investors in a wide range of sectors, including agriculture,” Jane Halford, chair of FCC’s board, said in a separate release Wednesday.
“Her diverse leadership background and fluency in both official languages make her an ideal fit for FCC. Over the years, Justine has focused on innovating EDC’s products and services, including elevating sustainability.”
FCC’s CEO oversees a loan portfolio currently valued at over $44 billion and a Crown corporation billed as Canada’s largest provider of business and financial services to farmers, agribusiness and agri-food operations, with 102 offices across the country.
“The Canadian food system is well-recognized around the world for its contributions, and we have an opportunity to do even more,” Hendricks said in FCC’s release.. “I was attracted to FCC because of the opportunity to be part of the future of the Canadian agriculture and food sector.” — Glacier FarmMedia Network
