Michael Phelps is Chairman of Dornoch Capital Inc., a private investment company. He is Chairman of the Board of the GLOBE Foundation and Kodiak Exploration Limited.

In 2003, the Canadian government appointed Mr. Phelps as Chairman of “the Wise Persons’ Committee,” a panel developed to review Canada’s system of securities regulation. From January 1988 to 2002, he served as President and CEO, and then Chairman and CEO, of Westcoast Energy Inc. in Vancouver. From 1997 to 2006, he served as Chairman of the Committee to Nominate the Canada Pension Plan Investment Board. In 2001, Mr. Phelps was appointed as an Officer to the Order of Canada.

Mr. Phelps sits on the Board of Directors of Canadian Pacific Railway Ltd., Spectra Energy Corporation, Marathon Oil Corporation, and the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Games. He also serves on the boards of the London School of Economics (North American Advisory Board) and Vancouver General Hospital & University of B.C. Hospital Foundation and is a Senior Advisor to Deutsche Bank AG, Canada.