Sysco Board Disbanded

The board of directors of the Sydney Steel Corp. was dissolved today as efforts to wind down the steel mill move forward. The announcement was made today by Economic Development Minister Gordon Balser, following a decision of cabinet and an earlier meeting with the full board.

"I'd like to thank the board of Sydney Steel for their hard work and dedication during some very difficult times and decisions," said the minister. "Sysco's board is an example of everything a good public sector board should be -- thoughtful, diligent and hard-working. They did an excellent job of balancing the interests of taxpayers and Nova Scotians alike."

In addition to the minister, members of the board were chair Teresa MacNeil, Ed Harris, Peter Sodero, James Gogan, Jacqueline Thayer-Scott, John Kingston, Wayne Weatherbee and Philip Murray.

The board's mandate of overseeing ongoing operations at Sysco is no longer applicable, given the current wind-down and liquidation.

Senior civil servants will be responsible for overseeing this process, reporting to the minister responsible. This group includes Howard Windsor, deputy minister of Transportation and Public Works; William Hogg, deputy minister of Finance; Brian Stonehouse, deputy minister of Service Nova Scotia and Municipal Relations; and Kevin Malloy, the province's comptroller.

The accounting firm Ernst and Young will manage the process of liquidating the plant's assets.