Newcap Chairman Harry Steele Retires

Harry Steele Retires

NEWFOUNDLAND CAPITAL CORP. LTD. (NEWCAP) Director and Chairman HAROLD R. "HARRY" STEELE is retiring from the Canadian radio and TV operator effective TODAY (2/26).  STEELE has been named Chairman Emeritus, while his son, President and CEO ROB STEELE, has been appointed Chairman.

"HARRY is a wonderfully recognized and respected Canadian business icon whose vision and business acumen has formed the foundation of the successful business that NEWFOUNDLAND CAPITAL is today. He has had a unique ability to cultivate relationships and realize value from business and has done so with great decisiveness and charm, for which he is so respected," said Chairman of the Audit and Governance Committee DAVID MATHESON. "We thank him for the outstanding leadership he provided throughout his many years of dedicated service to the Company and wish him and his wife CATHERINE much happiness in retirement."

"I look forward to continuing to work with the Board and management team to build upon the success of the Company," said ROB STEELE.

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