Federal Finance Minister Jim Flaherty announced the appointment of three new directors to the Canada Pension Plan Investment Board on Wednesday.

Geraldine Sinclair, Ian Bourne and Murray Wallace take up their positions on the board effective immediately.

Sinclair is a Vancouver-based communications executive with 23 years of business experience in Canada and the U.S.

Bourne is a retired senior executive based in Calgary with 38 years of corporate experience.

Wallace is a London, Ont., chartered accountant with 40 years of experience in the financial and provincial government sectors.

Directors of the CPPIB are selected by the federal government, in consultation with participating provincial governments, from a list of qualified candidates provided by a joint federal-provincial nominating committee.

The nominating committee, currently chaired by Brian McNeill, comprises 10 members — one appointed by the federal government and one appointed by each of the nine participating provinces.

The CPPIB is responsible for prudently investing CPP investment funds in the best interests of CPP contributors and beneficiaries. It invests in a diversified portfolio of securities and operates at arm’s length from governments under broadly the same rules as other pension funds in Canada.