Yesterday, Public Eye reported Paul Taylor, the politically carnivorous deputy minister at finance, had become bored/frustrated with his current job and may be appointed as the president and chief executive officer of the Insurance Corporation of British Columbia. This, and other media reports published today, prompted T. Richard Turner, who chairs the corporation's board of directors, to send out an internal announcement assuring employees that a new chief executive officer had not yet been selected. However, according to the leaked email, "in June, the Board of Directors contracted with Ray & Berndtson Tanton Mitchell to assist with the search for a new CEO. The search is still in progress. What has occurred is that during the search, government identified a very qualified internal candidate. This person has indicated interest in the position and will be considered along with other candidates." The following is a copy of that email.

-----Original Message-----
From: Announcements
Sent: July 30, 2004 9:34 AM
To: Announcements
Subject: NEWSWATCH: CEO search continues

CEO search continues

Recent media stories have speculated that a new CEO for ICBC has been selected. This is not the case.

In June, the Board of Directors contracted with Ray & Berndtson Tanton Mitchell to assist with the search for a new CEO. The search is still in progress. What has occurred is that during the search, government identified a very qualified internal candidate. This person has indicated interest in the position and will be considered along with other candidates.

It is the responsibility of the Board of Directors to appoint a CEO for ICBC and we are taking this responsibility seriously by undertaking a rigorous selection process.

T. Richard Turner
Chair of the Board

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