Who We Are: About Frank Shostack
BENNETT FRANKLIN (Frank) SHOSTACK
Barrister & Solicitor
As a business adviser for over 50 years, Frank regularly counsels clients on transactions involving acquisitions, divestitures, mergers joint ventures, including the formation of business vehicles and agreements to implement co-operative business ventures. In one of his previous Firms (2000 – 2016), Frank was responsible for the Firm’s strategic planning and recruiting initiatives, which allowed the Firm to double in size and successfully recruit top candidates for the Firm’s requirements.
The History
How Did Frank Get Here?
Mr. Shostack has supplemented his legal expertise with operations management education which he has applied to assist clients with their strategic planning efforts. His involvement in governance matters has been ongoing as part of his role as a director of various insurance companies and has led to governance matters becoming a primary focus since 2002.
Mr. Shostack’s client service strategy focuses on developing an in-depth relationship with his clients to gain a detailed understanding of their business and its key drivers of value. Many of his clients have looked to him for general business counsel beyond legal matters which has enabled him to maintain a number of relationships for more than 40 years.
Education
B.A., 1965 – University of Western Ontario (London, Ontario)
J.D. (LL.B.), 1968 – University of Toronto, Faculty of Law
LL.M., 1980 – Osgoode Hall Law School, York University (Toronto)
ICD. D 2004 – Institute of Corporate Directors
Hammer & Company 2001-2 – “Certificate of Process Expertise”, “Certificate of Mastery in Reengineering” and “Process Master”
Firm
B. Franklin Shostack Professional Corporation
Called to Ontario Bar – 1970
45 Sheppard Ave. E. Suite 900, Toronto, Ontario Canada M2N 5W9
Personal Interest & Other Information
- Married to Renee Barsh (34 years) 3 daughters , 1 son
- Duplicate Bridge (Bronze Life Master); fishing,
- Former Downhill Skier, Scuba Diver (instructor rating)
Selected Areas of Legal Expertise
Corporation Law, Corporate Finance and Governance
- Corporate reorganizations designed to restructure debt/equity capitalization
- Advising boards of directors and board committees on corporate governance issues; created comprehensive governance mandates and ancillary governance materials (eg. independence criteria) for boards of directors and committees
Acquisitions, Mergers, Joint Ventures
- Share and asset acquisitions and sales
- Preparation of various types of shareholder, joint venture and other forms of agreements designed to implement co-operative business ventures
Taxation Matters
- Creation of tax structures to optimize consolidated tax burden of corporate groups.
- Created North American cross-border transfer pricing structure for an integrated manufacturer.
Experience
Past and Current Directorships and Board Roles:
Canada Guarantee Mortgage Insurance Company (a joint subsidiary of Ontario Teachers’ Pension Plan and First National Financial): non-executive Corporate Secretary, with responsibility for advising the Board and its committees on governance matters (2010 to present).
GCAN Insurance Company (formerly Gerling Canada Insurance Company, Toronto): Director (1985-2002), Corporate Secretary (1993-98) and member of Audit Committee (1997-2002; Chairman of Audit Committee 2001-2002); re-appointed non-executive Corporate Secretary in 2003 with responsibility for advising on Corporate Governance matters (until sale of GCAN in 2010 to Royal Sun Alliance Group).
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Global Reinsurance Company, Toronto (formerly Gerling Global Reinsurance Company); Director (1985 to date) Member of the Audit Committee (1997 to date); Chairman of Conduct Review, Ethics and Governance Committee (appointed 2008).
Revios Reinsurance Canada Limited (formerly Gerling Global Life Insurance Company), Toronto: Director (1985 – 2007) and Member of the Audit Committee and Conduct Review Committee (1997 – 2007); Revios Reinsurance U.S. Inc. (formerly Gerling Global Life Reinsurance Company) Los Angeles, California: Director (1997 – 2007). Director role ended at the time of the sale of these companies to SCOR.
Director and Secretary of Hostmann-Steinberg Limited, Toronto (1984 to date); and National Printing Ink Company, Louisville, Ky., (1988 to 2009) the Canadian and U.S. subsidiaries of Michel Huber Munchen GmbH, an international manufacturer of specialty printing inks.
Director of Lewer Canada Inc., (1984 to date) the Canadian affiliate of The Lewer Agency, Inc., (of Kansas City Mo.) a marketer and administrator of franchise network group health insurance plans.
International Harvester Credit Corporation of Canada Limited (renamed Navistar Financial Corporation Canada Inc, in 1985): Director and Audit Committee member (1980-1986) until sale to GE Capital in December 1986.
Mr. Shostack has also held director positions during the late 1980’s with two small public companies, Anthes Industries Inc. and Canada Lease Financing Ltd., and from 1997 to 1999 served as acting CEO of a small technology company, Corrigan Technologies Inc. following an investment in that corporation by RBC Private Equity.
Other Business-related Education, Interests and Skills
1991, 1992, 2000 – attended workshops conducted by GOAL/QPC, a US research organization committed to improving business management and leadership using TQM planning tools; have applied TQM implementation and planning strategies and tools to assist legal clients with development and implementation of customer driven marketing and strategic business plans; acted as facilitator for executive strategic planning meetings.
1996,1997 – attended 2 week-long workshops on Alternative Dispute Resolution dealing with mediation and negotiation strategies, and managing multi-party negotiations and disputes.
1998 – attended 4 day workshop on managing high growth entrepreneurial organisations conducted by the Richard Ivey Business School – University of Western Ontario.
2001, 2002 – Participant in “Managing the Process Enterprise”, “The Transition to the Process Enterprise” and “Process Design and Implementation” programs, conducted by Dr. Michael Hammer (Hammer & Company) relating to organizing operational structure around core processes, creation of knowledge-based organizations, and designing and aligning business processes and measurement systems with strategic objectives; holder of “Certificate of Process Expertise”, “Certificate of Mastery in Reengineering” and “Process Master” designation.
2004 – Completed Directors Education Program (presented jointly by Rotman School of Management (U of T) and the Institute of Corporate Directors); received ICD.D designation from the Institute of Corporate Directors