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IQALUIT
Tim Zehr, president and chief operating officer of Nunasi Corp., has resigned.

Tim Zehr, president and chief operating officer of Nunasi Corp. has resigned from the development corporation. - photo credit Franco Buscemi, Nunasi Corp.

The longtime head of the major beneficiary business development corporation tendered his resignation at a meeting of the Nunasi Board of Trustees last Thursday in Yellowknife.

"I have regrettably accepted the resignation of President/COO Tim Zehr," stated chairman Wilfred Wilcox, in a memo dated June 11. "Tim tendered his resignation for personal reasons and while the Board wishes to see his continued service, the Board respects his decision.

"Tim has done very well for the company."

Zehr will continue to carry out his role as president and COO until Aug. 31.

"At that time we will bid farewell and wish him continued success in his career," stated Wilcox.

Zehr was not available as of press time to comment on his reasons for parting with the company.

The resignation comes just weeks after Nunasi named Inuktitut businessman Archie Angnakak, CEO.

The CEO position had been vacant since 2010.

Angnakak was said to have had a good working relationship with Zehr when he assumed the role in May.

"I'm definitely looking forward to working with my counterpart Tim Zehr, the president and COO," Angnakak told News/North at the time.

Nunasi spokesman Franco Buscemi said the resignation was a "tough decision" for Zehr, emphasizing that "it was for personal reasons.

"Everything is on good terms," Buscemi said.

Before joining Nunasi in 2008, Zehr was president of RTL Robinson Enterprises.

A replacement for Zehr has not yet been announced.

Wholly-owned by beneficiaries of Nunavut, Nunasi currently holds ownership in more than 50 different companies, all involved in various private and government projects across the North, involving multiple sectors.

The development corporation's investment strategy and portfolio is guided by its board of nine people, including representatives from all three regional Inuit associations, regional development corporations, and Nunavut Tunngavik Inc.

The appointment of Angnakak, who is very familiar with the key players of Nunavut's birthright organizations, was in line with Nunasi's current strategic direction to strengthen its partnerships and alliances with other development corporations and businesses within Nunavut.

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