Annual General Meeting - 2025

Date: Thursday, May 29, 2025
Time: 10 - 11:30 a.m. EST

Stephen Crawford was elected as the Member for Provincial Parliament (MPP) for Oakville in 2018, in 2022, and again in 2025.

On March 19, 2025, he was appointed as Ontario’s Minister of Public and Business Service Delivery and Procurement, overseeing the delivery of vital programs and services through ServiceOntario, the implementation of consumer protection laws in the province, and the development of public policy around cyber security as well as ground-breaking technologies like AI. He also manages public sector procurement and supply chain operations, ensuring ministries, hospitals, school boards, provincial agencies and more, have access to high-quality, timely, reliable products that are also cost-effective. Prior to his latest appointment he served as Ontario’s Associate Minster of Mines and as Parliamentary Assistant to the Ministers of Finance, Energy, and Infrastructure.

Before entering public service, Stephen served in senior leadership and executive roles in the financial and investment industry over the past 20 years. As a senior executive and senior equity partner at Acuity Funds Ltd, he was instrumental in growing the firm to almost $10 billion in managed assets and was acquired by AGF Management Ltd. in 2011. After Acuity, Stephen became a senior executive and helped transition and build O’Leary Funds LP before it was purchased by Canoe Financial in 2016.

Stephen is very engaged in the Oakville community. He is a member of the Oakville Chamber of Commerce, 100 Guys Who Care-Oakville, and the Royal Canadian Military Institute. He is also a vocal supporter of Plan Canada’s “Because I am a Girl” campaign, which focuses on empowering young girls’ rights to education and health care globally. He was presented with the Keys to the Town of Oakville twice: In 2019, for his work to keep Oakville a distinct town during the provincial amalgamation assessment, and again in 2021 for his role in saving the Glen Abbey Golf Course.

Stephen attended the University of Western Ontario to study Political Science, and then went to University of Toronto for Business. After university he then went on to earn his Canadian Investment Manager (CIM) designation.

Stephen resides in Oakville, Ontario, where he lives with his wife Najia. Stephen is blessed to be the father of two sets of identical twin girls.
 

Dr. Atul Kapur is a Certified and Registered Professional Parliamentarian who has assisted at past RECO Annual General Meetings. He is Vice President of the American Institute of Parliamentarians. Atul uses his expertise in Robert’s Rules of Order to help organizations across the country have productive and efficient meetings.


 

Background: The first item of business is to approve the meeting minutes from the 2024 annual general meeting. These minutes were included in the materials circulated ahead of the AGM and are also available to view on RECO’s website.

Motion: Be it resolved that the minutes of the Annual General Meeting of May 30, 2024 be approved as presented.

Katie Steinfeld, Chair
Brenda Buchanan, Interim CEO
Joseph Richer, Registrar

RECO 2024 Annual Report (PDF)

Background: The motion is to appoint the auditors for the 2025 fiscal year audit. The function of the auditor is to express an opinion on whether the organization’s annual financial statements, prepared by management with the oversight of those charged with governance, are, in all material respects, in accordance with the financial reporting framework.

Each year, the board of directors conducts an evaluation of the performance of the auditors in accordance with RECO’s Policy on External Audit.

At every AGM, members appoint the auditors in accordance with the RECO by-laws and best governance practices. RECO periodically conducts an RFP process for the role of auditor. KPMG was the successful vendor in the most recent RFP in 2021, and 2022 was the first year under that multi-year arrangement.

Motion: Be it resolved that the firm of KPMG LLP be appointed as auditors of the Real Estate Council of Ontario until the close of the next Annual General Meeting of the corporation following their appointment.

Requirement: This motion requires the approval of the majority of votes cast in order to be carried.

Background: In 2024, as part of changes to its board size and structure, RECO introduced three classes of directors:

• Sector directors (previously referred to as industry directors)
• Ministerial appointees
• Non-sector directors

At the 2025 AGM, there are three vacancies for sector directors.

As outlined on RECO’s website, members of RECO will elect sector directors as determined through the Nominations Committee process.

The Nominations Committee is responsible for selecting and proposing suitable sector and non-sector directors so that the board includes individuals with a complementary skill set to carry out its duties of providing strategic oversight to RECO. The Terms of Reference for this committee can be found on RECO’s website.

This measure is in line with good governance practices and aligns with other Administrative Authorities.

Campaign material for each candidate

The candidates for sector director are listed below, listed in alphabetical order (last name, first name). This is the same order in which the names will appear on the ballot.

Each candidate has provided a photo, a brief biographical summary, and a video (maximum of two minutes in length) which will be posted on RECO’s website during the campaign period (from April 28-May 28, 2025).

At the AGM and before the vote is called, a video (maximum of 45 seconds in length) from each candidate will be played in alphabetical order by last name.

Following the conclusion of the videos, members of RECO will be invited to vote.

Voting process

The ballot will list each of the candidates, in alphabetical order (last name/first name).

As there are three vacancies, members can cast up to three votes, but only one vote per candidate. Members may cast a ballot for only one or two candidates, if they wish.

Candidates for sector director vacancies

The following are the candidates:

Betty, David
Crampsie, Owen
Howell, Leonard
Kirkwood, Sylvia
Phillip, Collin
Preece, Robert
Steinfeld, Katie
Uppal, Subhir

Requirement: Members of RECO will elect sector directors by casting ballots, for terms determined by voting results as follows:

• Greatest number of total votes – a term of 4 years
• Second greatest number of total votes – a term of 3 years
• Third greatest number of total votes – a term of 2 years

RECO members who registered for the AGM prior to May 28, 2025, before 9:00 a.m. EST are eligible to ask questions. During the AGM, the “Discussion/Question” button will appear at the bottom of the viewing screen.

For those who may wish to submit a question in advance, please direct it to AGM@reco.on.ca and include your full name, brokerage, and registration number.

A recorded version of the AGM will be posted to the website.