Many Alberta CEOs stay silent ahead of Monday's 10-question referendum
With a provincial vote on separation and other issues just days away, a governance expert says it's normal for corporate leaders to avoid weighing in on politics.
Why it matters
The referendum's outcome and business community's response could shape Alberta's economic and political future within Canada.
Monday's referendum includes 10 questions, among them whether Alberta should remain in Canada or move toward a binding separation vote, plus five on immigration and four on constitutional matters. York University governance professor Richard Leblanc says it is unsurprising that most Alberta CEOs have not publicly commented, noting a longstanding tradition of executives avoiding political stands that could alienate shareholders or employees.
More than 70 business leaders have signed an open letter from the Calgary Chamber of Commerce warning of economic fallout from separation, though few top executives at major publicly traded companies have spoken out individually. Exceptions include Imperial Oil's John Whelan, who has backed Alberta remaining in Canada, and Atco Ltd.'s Nancy Southern, who has warned of the disruption a split would cause.
Leblanc said boards sometimes decide a CEO should speak out when an issue affects a company's well-being, and noted some firms have former political figures on their boards who can advise on when to engage publicly. Atco's board includes former Alberta premier Jason Kenney, a vocal supporter of staying in Confederation, and former federal cabinet minister Rona Ambrose.
Leblanc added that customers and employees may expect executives to take a stand on issues that could affect a business, even though securing board approval for such statements can be difficult. He said the risk of staying silent can sometimes outweigh the risk of speaking up.
Compiled by the Alberta Daily Desk — an AI-written summary of reporting from the credited sources below, produced and reviewed under our editorial policy.