Algoma University's Board of Governors held its first meeting of the calendar year on Monday, January 27, marking an important milestone in its ongoing commitment to leadership, governance, and financial sustainability. The meeting welcomed two new external governors, Margaret Mah and Kate Lamb, and approved the University's Reserve Management Policy updates.
Margaret Mah, Retired Director of Business and Administration within the Department of Medicine at the University of Toronto, and Kate Lamb, Chief Operating Officer at the Law Society of Ontario, were appointed as external members of the Board of Governors following a recommendation by the Governance Committee. Serving terms from January 27, 2025, to June 30, 2027, they bring significant expertise and perspective to the Board, reinforcing Algoma University's commitment to inclusive and effective leadership.
In addition to these appointments, the Board approved key revisions to the Reserve Management Policy, aligning with the Ministry of Colleges and Universities' Financial Accountability Framework. These updates increase the operating reserve requirement from 30 to 90 days, enhancing the University's financial resilience amidst changing landscapes in the post-secondary sector.
"I am delighted to welcome our new Board members, Margaret Mah and Kate Lamb, whose wealth of knowledge and expertise will greatly enrich Algoma University," said Rob Battisti, Vice Chair of the Board and Risk and Finance Committee Chair. "Their perspectives will play a vital role in guiding the University's strategic initiatives, including key decisions such as the approval of the revised Reserve Management Policy. This policy strengthens Algoma University's ability to plan strategically and embrace new opportunities, reflecting our dedication to thoughtful financial stewardship, transparency, and long-term success."
The January meeting also highlighted Algoma University's progress on major institutional projects, including the Makwa Waakaa'igan Centre of Cultural Excellence and the planned expansion of science and research facilities. These transformative initiatives demonstrate the University's commitment to creating meaningful opportunities for students and making a lasting impact on the broader community.
For more information about Algoma University's governance structure and recent Board of Governors updates, visit algomau.ca/governance/board-of-governors.
