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ONEX Corporation
11/11/2022
Welcome to ONIX third quarter 2022 conference call and webcast. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question and answer session with pre-qualified analysts. At that time, if you have a question, please press star 1-1 on your telephone keypad. As a reminder, this conference is being recorded. I will now turn the conference over to Jill Hominick, Managing Director, Shareholder Relations and Communications at ONIX. Please go ahead.
Thank you. Good morning, everyone, and thanks for joining us. We're broadcasting this call on our website. Hosting the call today are Jerry Schwartz, our founder and CEO, Bobby LeBlanc, ONIX's president and head of ONIX Partners, and Chris Gevin, our chief financial officer. Earlier this morning, we issued our third quarter 2022 press release, MD&A, and consolidated financial statements, which are available in the shareholder section of our website and have also been filed on CDAR. Our supplemental information package is also available on our website. As a reminder, all references to dollar amounts on this call are in U.S. unless otherwise stated. I must also point everyone to our webcast presentation for our usual disclaimer and cautionary factors relating to any forward-looking statements contained in today's presentation and remarks. With that, I'll now turn the call over to Jerry.
Thanks, Jill. Good morning everyone, and thanks for joining us today. You know, I'm thinking back to when ONIX was created nearly 40 years ago. It was built to perform consistently in a wide range of market conditions. Our focus today remains, as it did then, on the virtue of disciplined investing. This includes a bias towards value, prudent and conservative underwriting, and ample liquidity. This approach has allowed us to convert market dislocations into moments of opportunity. We saw this dynamic at play during the great financial crisis of 2008 and again during the pandemic. Today, as markets continue to fluctuate in the face of macroeconomic and political uncertainty, I am confident that our strong culture, client relationships, and financial position will allow us to emerge even stronger. To that end, we also have to keep our eye on the future to ensure continuity and a strong path for growth and success. On that note, it is my pleasure, and I really mean a pleasure, to announce our proposal to appoint Bobby LeBlanc as Chief Executive Officer following our 36th Annual General Meeting in May of next year. I've had the pleasure of working alongside Bobby for 23 years. A consummate professional with a wealth of investment and management experience, he's the ideal person to lead ONIX and drive value for our partners, investors, and shareholders. Over the last two years, Bobby, as president, has played an instrumental role in our strategic plan and has led many of our firm-wide initiatives. In addition to his work with ONIX partners, he's also been actively engaged with our business platforms and is a strong advocate for our OneONIX approach. As founder and chairman, I will certainly continue to remain involved with ONIX and to work with Bobby to be part of our growth. This proposal is conditional. upon an amendment to the multiple voting shares to maintain their current voting entitlement following the transition of rules. In addition, a five-year sunset provision will be added to the MVS. Shareholders will, of course, be asked to approve the proposal at our next AGM. We believe that this is the right approach, creating an appropriate balance between continuity and planning for the future. We wanted to provide shareholders with a clear and orderly indication of our succession plans. I want to thank the entire ONIX team for their remarkable support in this time of great change and opportunity. With that, let's turn it over to Bobby for more on the quarter. Bobby?
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