University of Waterloo installs Prem Watsa as its ninth chancellor
WATERLOO, Ont. (Monday, June 8, 2009) - Prem Watsa, University of Waterloo's new chancellor, is sure his dad would be proud of him today.
"He was an educator, a school principal in India who valued learning and made sure his children all got an education," said Watsa, one of Canada's leading business figures.
That's why he is delighted at the honor of being officially installed as Waterloo's ninth chancellor tomorrow, at 10 a.m., during the convocation for the faculties of applied health sciences and environment. Watsa will also address the graduating class, parents and visitors, the first of several convocations this week at which he will help confer degrees on approximately 4,000 graduands from all six faculties.
The accomplished Watsa, chairman and CEO of Fairfax Financial Holdings Ltd., has praised Waterloo for its history for boldness, unconventionality and penchant for seizing opportunity.
"This university was founded by businessmen, built by initiative and taking the unconventional path, a strategy that has resulted in a world-class institution," he said, adding, "It is a wonderful honor Waterloo is bestowing on me."
Watsa succeeds RIM founder and Co-CEO Mike Lazaridis who is completing two terms as chancellor. Waterloo will name Lazaridis chancellor emeritus at a ceremony on Saturday, June 13. The chancellor serves as a leading ambassador for the university and presides over convocation ceremonies, conferring degrees, diplomas and certificates on graduating students.
Watsa brings to the position outstanding financial acumen, extensive international experience along with a strong belief in the value of supporting students and community.
"Prem Watsa is a tremendous self-made leader who demonstrates integrity and reflects the qualities the university embraces and seeks to encourage among our students," said Waterloo's president David Johnston. "We value his leadership and guidance especially during these economically challenging times for the post-secondary sector."
Born in Hyderabad, India in 1950, Watsa earned a bachelor's degree in chemical engineering from the Indian Institute of Technology in 1971. He moved to Ontario the following year and later earned an MBA from the University of Western Ontario.
His professional career began at Confederation Life Insurance Co. in Toronto and he served as vice-president of Confederation Life Investment Counsel from 1974 to 1983. He then spent a year as vice-president of start-up firm GW Asset Management.
Watsa co-founded Hamblin Watsa Investment Counsel Ltd. (now fully owned by Fairfax) in 1984. The next year he took control of Markel Financial Holdings Ltd.
In 1987, he re-organized Markel and renamed it Fairfax, which is short for fair and friendly acquisitions. The name reflects the company's guiding principles, which maintain that honesty and integrity are essential in all relationships and will never be compromised.
Waterloo's sixth decade plan, which took effect in 2007, calls for a focus on the undergraduate student experience, a growing of grad studies and an expansion of the university's international reach that will include the opening of two campuses abroad.
No comments:
Post a Comment