New recruit selected from a line of four

The Canadian Public Accountability Board (CPAB) has appointed a new chair and vice chair, and added a pair of new directors.

The audit regulator has named Benita Warmbold its new chair, replacing Nick Le Pan, who chaired the regulator’s board since 2008.

Warmbold was formerly senior managing director and chief financial officer at the Canada Pension Plan Investment Board (CPPIB). She has been on the CPAB board since 2011, and also serves on various other boards. She is the first woman to head the CPAB’s board.

“As a board, we will be focused on overseeing CPAB’s continued drive for consistent, high quality public company audits while also meeting the evolving challenges in public company auditing and its regulation,” Warmbold said in a statement.

Additionally, the regulator announced that Sheryl Kennedy, former deputy governor of the Bank of Canada, has been named vice chair of the CPAB. She is currently also chair of Promontory Financial Group Canada, and has been on the CPAB’s board since 2010.

Finally, the organization also appointed two new directors: Sheila Fraser, the former auditor general of Canada; and Kevin Kelly, a long-time financial industry executive who’s had stints as president of Fidelity Canada and president and co-CEO of Wellington West Capital Inc., and is a former commissioner with the Ontario Securities Commission (OSC).