Darrell Greer
Northern News Services

Rankin Inlet (Apr 24/00) - Sakku Investments Corp. has a new face and it's the face of business success.

Peter Tatty, a well-known and successful Keewatin businessman for more than 25 years, has been elected as board chair of the corporation.

In taking his position as chair of the Kivalliq Inuit Association's main subsidiary, Tatty says a new approach to how it conducts business will be one of the company's biggest strengths.

Historically, the Sakku Investment Corp. president has come from within its membership, something that will change with Tatty at the helm.

Sakku will be hiring a full-time paid president and will advertise the position in the south in hopes of finding the best possible person for the position.

"In the past, the president and the chairperson couldn't argue with each other because they were usually one man," says Tatty.

"We have to find a way now to effectively direct the new president.

"That's the way a successful corporation should operate and I'm going to make sure it's the way Sakku Investments Corp. operates."

Trouble started to brew at Sakku Investments Corp. when the KIA was forced to reconvene its October annual general meeting in December after KIA auditors were unable to present consolidated financial statements due to difficulties with the preparation and co-ordination of the Sakku Investment Corp.'s financial statement.

A total of 15 board members from Sakku and Kivalliq Partners in Development -- a jointly-owned company of Sakku and the KIA -- were replaced earlier this year.

The Sakku appointments became effective April 1.

"This restructuring of the board was a very positive step as we move forward," says Tatty.

"This will have Sakku Investments Corp. operating more the way a company should."

Tatty says he won't discuss the performance of past members and can't say anything about how Sakku was operating in the past.

However, he hopes the company will be better recognized as a business as it moves forward.

"I don't expect it to happen overnight, but I'm hoping we'll quickly get structured to the point where we can actually say to the people, here we are and this is how we are.

"This is a good board, one willing to go through the challenge and that's what I wanted to see."