Beijing in the boardroom bad for sovereignty, says IntegrityBC’s Dermod Travis.
A British Columbia watchdog says Teck Resources’ appointment of a Chinese government official to its board of directors undermines Canada’s control of its resources.
Dermod Travis of Integrity BC said the move gives China a voice at the board table of one of Canada’s largest mining companies, with revenues of more than $8 billion.
“You have an official with a foreign government who is sitting on the board of a public company in Canada,” Travis said. “There are a lot of people in China they could have chosen, and the fact this individual is a member of the government should set off alarm bells.”
He said he isn’t aware of any other foreign government officials sitting on the boards of Canadian corporations. Quan Chong was elected as one of 14 directors on the Teck board in April.
A Teck spokesperson said Chong has a wealth of experience in international trade and insight into the business climate in China. “China is Teck’s most important market, accounting for over 25 per cent of our sales in 2015,” said Chris Stannell.
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