Corporate Governance
Members of the last board of directors of Thomson were as follows: David K.R. Thomson (chairman of the board since 2002), W. Geoffrey Beattie, Richard Harrington, Ron Barbaro, Mary Cirillo, Robert Daleo, Steven Denning, Maureen Darkes, Roger Martin, Vance Opperman, John M. Thompson, Peter Thomson, Richard Thomson, and John A. Tory.
The Thomson family owned 70% of the company.
When Kenneth Thomson died in June 2006, control of the family fortune passed on to David K.R. Thomson under a plan put together decades earlier by company founder Roy Thomson.
"David, my grandson, will have to take his part in the running of the Organisation and David's son, too," Roy wrote in his 1975 autobiography. "With the fortune that we will leave to them go also responsibilities. These Thomson boys that come after Ken are not going to be able, even if they want to, to shrug off these responsibilities."
The Thomson family controlled The Thomson Corporation through a family-owned entity, The Woodbridge Company, based in Toronto. (Along with 70% of Thomson Corporation, Woodbridge also owns a 40% stake in CTVglobemedia, which now owns The Globe and Mail daily newspaper in Toronto and CTV, Canada's largest commercial TV network.) David K.R. Thomson and his brother, Peter Thomson, became co-chairmen of Woodbridge after their father's death.
Read more about this topic: The Thomson Corporation
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