Board of Directors

Paul Malan, Chairman

Mr. Malan is Senior Partner of iCON Infrastructure LLP. He has a long track record of successful execution and management of infrastructure investments, including all investments undertaken by the iCON Team. Paul founded the iCON Team in 2004, prior to which he spent 10 years in various roles at Macquarie Bank in London and Australia. Mr. Malan is Chairman of iCON's Investment Committee.

Michael Smerdon

Michael Smerdon serves as Executive Vice President and Chief Financial Officer of Capstone Infrastructure Corporation (TSX: CSE), a role he has held since August 2009.

At Capstone, Mr.Smerdon has led the sale, by way of IPO, of Leisureworld Inc.; five asset-level project financings totalling over $270 million; and over $600 million of corporate-level equity and debt financing to support Capstone’s growth strategy. He currently serves as one of Capstone’s representatives on the board and audit committee of Bristol Water PLC, a regulated water utility in the UK.

During his time at Macquarie, Mr. Smerdon served as a key member of the senior management team of New York-based Macquarie Infrastructure Partners Inc. (MIP), which manages two infrastructure funds totalling US$5.5 billion of investor capital. His responsibilities included managing Macquarie’s North American port investments as well as leading the capital raise and structuring for Macquarie Infrastructure Partners II. Prior to his role with MIP, Mr. Smerdon was responsible for managing a number of Macquarie’s infrastructure businesses, including the Detroit-Windsor Tunnel, Atlantic Aviation, Leisureworld and Parking Company of America Airports, among others, where he was involved in the acquisition, directed business planning, financial and operational reporting, capital structure management, risk management and governance, including serving on each business’ board of directors, and ultimately led the sale of each of those businesses.

Mr. Smerdon holds a Bachelor of Commerce degree from the University of British Columbia and a Master of Business Administration degree from the Richard Ivey School of Business at the University of Western Ontario. He also holds the Chartered Financial Analyst designation.

Adèle Malo

Ms. Malo holds a B.A., LL.B. and LL.M. as well as the ICD.D designation and has extensive corporate and governance experience in the energy, foodservice, services and utility sectors. She currently serves on the Board of directors of Ontario's Electrical Safety Authority (ESA), Scientist in School (SiS) and Plugn'Drive. She was previously Executive Vice President of Government & Regulatory Affairs, Real Estate and External Communications and General Counsel for Direct Energy until her retirement in December 2012. Direct Energy is the North American subsidiary of Centrica PLC, delivering energy and services to millions of North American commercial and residential consumers. Prior to that she held senior positions with Ontario Power Generation, Union Gas, Oshawa Group Ltd., and Tim Horton's. Ms. Malo began her career as an associate lawyer in the tax department of Osler, Hoskin & Harcourt.

Gary Eade

Mr. Eade joined iCON Infrastructure in 2013 and focuses on investments in the energy sector. He has two decades of experience working in the conventional and renewable power generation sectors. He started his career in General Electric where he spent 13 years in the GE Energy division in multiple management roles, before moving to GE Energy Financial service. Following General Electric, Mr. Eade worked for Deutsche Bank as a technical director in the principal investment team and as Head of Energy for EEA Fund management.

Enis Moran

Mr. Moran has been a member of the iCON Infrastructure team since 2008 and has more than ten years of principal investment experience. During this time, he has worked on investments, debt financing, asset management and exits across a range of infrastructure sectors. While focusing primarily on operating power and utilities companies, he is also experienced in development and construction stage projects. Prior to joining the iCON team, Mr. Moran was with Deutsche Bank's asset-backed credit team in New York.

Janet Woodruff

Ms. Woodruff is a consultant and corporate director. Currently, she serves as the Chief Executive Officer (Acting) of Transportation Investment Corporation, a B.C. Crown Corporation, and from 2010 to 2011, Ms. Woodruff was Vice President and Special Advisor at B.C. Hydro. Prior to this, Ms. Woodruff served B.C. Transmission Corporation as interim President (2009-10) and Vice President and Chief Financial Officer (2007-08). Ms. Woodruff also served as an executive for a number of operating subsidiaries and at the corporate head office of Westcoast Energy Group from 1988 to 2002. She serves on the board of the Mutual Fund Dealers Association of Canada and is a member of the Directors Advisory Group of CPA Canada. Ms. Woodruff is a member of the Institute of Corporate Directors, holding the ICD.D designation, and is a Fellow Chartered Accountant of British Columbia. She earned her Master of Business Administration degree from York University.

Richard Knowles

Mr. Knowles is currently on the Investment Advisory Committee of the Canada Post Pension Fund and is a member of the Davis Rea Wealth Management Investment Review Committee. From 2000 to 2008, Mr. Knowles served as President and Chief Executive Officer and as a board director of Sceptre Investment Counsel Ltd. Mr. Knowles was previously President and Chief Executive Officer of Jones Heward Investment Management and Executive Vice President of Nesbitt Burns Inc. He is also past Chairman of the Portfolio Management Association of Canada and former Treasurer of North York General Hospital. Mr. Knowles is a Chartered Financial Analyst and holds an Honors Bachelor of Business degree from the Richard Ivey School of Business and an Honorary Doctorate of Laws from Assumption University (Windsor).

David Eva, Chief Executive Officer

Mr. Eva joined Capstone in October 2013 as Vice President, Development, and progressed to Senior Vice President and later to Chief Executive Officer of Capstone Power Corp., the power subsidiary of Capstone. On January 1, 2017, Mr. Eva was appointed to the position of Chief Executive Officer of Capstone and member of the Board. Mr. Eva is responsible for leading the organization’s executive team.