From running ONB to Toronto Global, Stephen Lund is a man on the go
Stephen Lund’s life is a series of vignettes that could spring from the pages of a Horatio Alger novel. You know: The one about a poor boy who overcomes impossible odds to succeed. But there are problems. For one thing, the Saint John, N.B., native didn’t exactly start poor. He graduated from St. Francis Xavier (BA) and Queens University (MBA). His resume says he has “completed executive-level studies at Harvard and University of Chicago.” For another, the 60-something doesn’t believe in “impossible”. He’s the past CEO of both Nova Scotia Business Inc. (NSBI). and Opportunities NB (ONB) and a former New Brunswick Deputy Minister of Economic Development and Small Business. In September 2020, the Atlantic Business Magazine hall of famer (inducted 2011) landed a job running Toronto Global, even though, he said, “it’s in the middle of a friggin’ pandemic.”
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Federal government steps up with support for Newfoundland and Labrador oil sector
In response to pleas from the private sector and the Government of Newfoundland and Labrador, the federal Liberals announced in September 2020, $320 million for the province’s beleaguered offshore petroleum sector. Depressed world oil prices, climate change and a Covid-driven drop in demand had put the once-powerful economic generator in a tight spot—and the province’s royalty revenue in freefall. A provincial Oil and Gas Recovery Task Force— co-chaired by Bill Fanning, president and country manager at Kvaerner Canada and Karen Winsor, chair of Noia, the oil and gas industry association—was tasked with advising on where the money would be allocated.
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