WASHINGTON, D.C. — David M. Penney, General Director – Taxes for General Motors of Canada Limited in Oshawa, Ontario, Canada, has been elected the President of Tax Executives Institute (TEI), effective August 9.
A member of TEI’s Toronto Chapter for nearly two decades, Mr. Penney previously held several important positions in TEI’s leadership, most recently as Senior Vice President and chair of the Continuing Education Committee. He has been a member of TEI’s Executive Committee and Vice President for Canadian Affairs in 2004-2005. He has also chaired TEI’s Canadian Income Tax Committee. Mr. Penney has served as President of the Toronto Chapter as well as the chapter’s representative on TEI’s Board of Directors.
A chartered accountant with a B. Commerce degree from Carleton University, Mr. Penney began his tax career with Revenue Canada (now called the Canada Revenue Agency), rising to the position as Section Chief of the Large File Program in the Toronto East Tax Services Office. He joined General Motors Canada in 1991. He has served as a member of the tax agency’s Large File Advisory Committee, and has participated in numerous meetings with government tax officials, in Canada and the United States. In addition to his TEI activities, Mr. Penney has chaired the tax committees of the Toronto Board of Trade, the Canadian Manufacturers & Exporters Association, and the Canadian Vehicle Manufacturers Association.
At the Board of Directors meeting immediately following TEI’s annual meeting of members, Mr. Penney presented the Institute’s goals for the year. Mr. Penney explained that the theme of his term would be Vision 20/20 – Global Advocacy, Education and Networking for the In-House Tax Community. Highlighting the Institute’s goals are two key task forces:
- Vision 20/20 Task Force: The Vision 20/20 Task Force will define the ideal TEI in 2020 and develop a strategic plan to ensure that the Institute remains the preeminent association of business tax professionals worldwide. The task force will identify the needs, expectations, and requirements for active engagement of the Institute’s current and future membership.
- Global Tax Advocacy Task Force: This task force will recommend methods and strategies to monitor, engage with, and influence other government organizations and regulators, including tax authorities in various jurisdictions, as well as the OECD, EU, SEC, FASB, and the United Nations, among others.
In addition, Mr. Penney said the Institute will continue its efforts to represent the business tax community before governmental authorities; offer high-quality, reasonably priced tax technical, management and policy programs; and enhance networking opportunities for in-house tax professionals at all experience levels.
Also installed at the Annual Meeting of Members were Carita R. Twinem of the Spectrum Brands, Inc. as Senior Vice President, Terilea J. Wielenga of Allergan, Inc. as Secretary, and Mark C. Silbiger of the Lubrizol Corporation as Treasurer. Nine Regional Vice Presidents and new Chapter Representatives were also installed.