Invest in Canada’s chief executive resigns weeks before investment summit

OTTAWA - Prime Minister Mark Carney is revamping the leadership of the agency in charge of attracting foreign investment, just weeks before a significant summit. Dominic Barton, a former Canadian ambassador to China and prominent corporate figure, will chair the board of directors for Invest in Canada. Barton's career includes a tenure at McKinsey and Co., a global consultancy, and leadership roles at Rio Tinto and LeapFrog Investments.

He previously chaired the Liberal government’s economic advisory council under Prime Minister Justin Trudeau and played a key role in securing the release of Canadians detained in China.

Gurinder Grewal, founder and managing partner of MEM Growth Partners, will become the chief executive of Invest in Canada. Carney highlighted Grewal's experience in the energy, industrial, infrastructure, and technology sectors. The change in leadership occurs two weeks prior to Carney's inaugural investment summit in Toronto, where he will gather foreign investors and domestic fund heads to discuss Canadian projects.

Carney expressed confidence in Barton and Grewal's ability to leverage Canada's strengths to attract new investments and create a stronger, independent, and resilient economy. The shake-up at Invest in Canada comes at a critical time, just before the high-profile summit, which aims to bring together foreign investors and domestic fund leaders to invest in Canadian ventures.

Gurinder Grewal will replace Laurel Broten, the outgoing CEO of Invest in Canada. Broten, a former Ontario cabinet minister under Liberal premier Dalton McGuinty, had been in the role for almost four years, exceeding the usual five-year term. The reason for her early departure was not disclosed by officials.