Annette Verschuren

Location: Nova Scotia| Profession: Business

"There's no question university helps a person find focus and develop discipline."

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Karen Kain 1971

Annette Verschuren was born on a farm in North Sydney, Cape Breton Island in 1956. After a serious heart attack, her father had to give up running the property and, at the age of thirteen, she was forced to run the affairs of the farm, along with her four siblings. An adolescence of doing chores and birthing cows instilled in her a strong – though unique – work ethic. She is now the president of The Home Depot Canada. As well as being on the board for Habitat for Humanity, she was appointed by the Prime Minister to the North American Competitiveness Council in 2006.

 


Karen Kain 2005

Profile

Timeline

1956 born in North Sydney, Nova Scotia
    1974 starts studying Arts at Saint Francis Xavier University
    1977 graduates with a business degree; hired by The Cape Breton Development Corporation
    1986 joins the Canada Development Investment Corporation, an arm of the federal government involved in privatizing crown corporations
    1992
      becomes Vice-President of development at Imasco
    1996 becomes President of Home Depot Canada

    The Cape Breton Development Corporation

    Four companies wanted to hire me out of university, including an accounting firm and a radio station. But I wanted to work in Cape Breton for this mining company. Four people from my graduating class applied for the job, many with connections in the coal mining business. One guy was even the son of a mayor. I thought, “The chances of me getting this are pretty slim.” But I did my homework. I spent three days getting prepared for that presentation. I went in to meet with this guy for the interview. I’ll never forget it: I had an hour and a half with him, and I told him what I’d do to turn the tourism industry in Cape Breton around. I had read all the annual reports of The Cape Breton Development Corporation. I was very informed. I think that just blew him away. I’ve learned that being prepared, being knowledgeable, respecting who you’re going to meet and being clear about the direction you want to take are all really critical.

    I was twenty-one when I started working at the Corporation. It was an amazing time. We were trying to leverage the coal mining business to support secondary businesses in Cape Breton. I was involved in the industrial development around the Corporation. Because the company was central to the area, they needed to set up secondary industries to make the region more diverse for the working population. “Industrial development” meant creating jobs for displaced workers. I worked with all the various industries developed for this purpose: in metal fabrication plants, sawmills, and tourism. I helped sawmill companies expand, worked with them on their business plans and established loans with the government. I remember giving a loan to a woman who needed to supplement her income in order to open a bakery. To see that little bakery open was really wonderful. I also remember giving a loan to a woman who wanted to buy a sewing machine to start a business. That woman is still operating in Cape Breton.

    I was in way over my head when I started. I didn’t have a clue. But I love drowning in any situation – you really learn in that environment. I had a couple of bosses at the Corporation that said, “Look, Annette. I don’t know how to do it. You figure it out. You can develop a program on your own.” And so I did. And I worked in an extraordinarily male-dominated business. I was the only woman in that environment for three years.