New InNOVAcorp President and CEO Named

InNOVAcorp's board of directors announced today, May 24, the appointment of Dan MacDonald as the corporation's new president and chief executive officer.

Mr. MacDonald brings to the role more than 19 years of high tech business building experience, including global marketing and product commercialization.

"After an extensive executive search process, we are confident we have found the ideal person to lead InNOVAcorp," said Colin Latham, chair of InNOVAcorp's board of directors. "Mr. MacDonald's years of private sector experience in the high technology industry, including five years in the heart of Silicon Valley, makes him well qualified for this position."

Mr. MacDonald and his family recently moved back to the Halifax area from Northern California, where he was vice-president of global marketing for Nokia Enterprise Solutions. Prior to joining Nokia, he worked for many years at Mitel Corporation, a leading global provider of communications solutions and services.

Over the years, Mr. MacDonald has held senior positions in a variety of business areas, including product management and marketing, engineering, international technical support, strategic planning, and program development.

"I am pleased that the board has chosen a new CEO of Mr. MacDonald's calibre to lead InNOVAcorp," said Economic Development minister Ernest Fage. "His broad experience in innovation and technology will enhance the already attractive business climate here in Nova Scotia."

"I am very excited about building upon InNOVAcorp's impressive track record," said Mr. MacDonald. "As president and chief executive officer, I will fully apply my high energy and business experience to drive Nova Scotia's innovation leadership."

Playing a key role in Nova Scotia's economic growth strategy, InNOVAcorp enables the province's early stage companies to commercialize their technologies through its High Performance Incubation (HPi) model. The model augments traditional business incubation facilities and services by offering an additional layer of venture guidance and investment.

Mr. Latham extended the board's appreciation to Ben Forcier, InNOVAcorp's vice-president of investment, who has served as acting CEO for the past eight months. Mr. Forcier will return to his focus on managing and growing the corporation's venture investment activity.