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Bank of Montreal
Symbol BMO
Shares Issued 647,059,842
Close 2021-04-06 C$ 113.09
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BMO appoints Ranganathan, Dent as directors

2021-04-07 14:47 ET - News Release

Mr. George Cope reports

BMO ANNOUNCES TWO NEW DIRECTORS AND CONFIRMS ELECTION OF BOARD OF DIRECTORS

Bank of Montreal has elected Madhu Ranganathan and Stephen Dent to BMO's board of directors following its annual meeting of shareholders.

"We are pleased to welcome Steve and Madhu to the board of directors," said George Cope, chair of the board, BMO. "Their knowledge and experience will be an excellent complement to the talented group of individuals serving on our board."

Ms. Ranganathan is the executive vice-president and chief financial officer at OpenText. She brings more than 30 years of financial leadership experience, with an innovative Silicon Valley technology-driven background with deep operational focus in software, hardware and tech-enabled services businesses.

Prior to joining OpenText in 2018, she spent 10 years as the chief financial officer of [24]7.ai, a global customer experience software and services company. Throughout her career she has served in various roles with innovative technology companies, and major accounting and financial services firms.

Ms. Ranganathan currently serves as a board member and audit committee chair for Akamai Technologies. She is a member of the Institute of Chartered Accountants, India, and a member of the American Institute of Certified Public Accountants. She holds an MBA from the University of Massachusetts and a BS accounting from the University of Madras.

Mr. Dent is a managing director and co-founder of Birch Hill Equity Partners, a Toronto-based private equity firm. Mr. Dent has over 30 years of experience in private equity and deep expertise in capital allocation, strategic planning, accounting and finance.

Prior to his current role, he spent 15 years at a major Canadian chartered bank culminating in a senior role leading the Canadian private equity division of the bank.

He is a member of the Business Council of Canada. He is involved in the founding and continuing support of Our Children's Medicine, an organization promoting indigenous employment with leading Canadian companies. He is also involved in the founding and continuing support of the Birch Hill Scholarship Program, supporting business school education for indigenous youth. He holds a BBA from Wilfred Laurier University and an MBA from the Ivey School of Business at Western University.

Election of board of directors

At the annual meeting, all the director nominees listed in the bank's management proxy circular dated Feb. 11, 2021, were elected. The detailed results of the vote for the election of directors are set out herein.

Each of the 13 directors proposed by management was elected as a director of BMO, as shown in the attached table.

Final voting results on all matters voted on at the annual meeting of shareholders held earlier today will be published shortly on BMO's website, and filed with Canadian and U.S. securities regulators.

About Bank of Montreal

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider -- the eighth-largest bank, by assets, in North America. With total assets of $973-billion as of Jan. 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

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