Board of Directors

James A. Ajello , Independent Director

James A. Ajello is an Administrator Director, a member of the Audit and Risk Committee and a member of the Governance, Nomination & Compensation Committee. Mr. Ajello is the former Executive Vice President, Chief Financial Officer and Chief Risk Officer of Hawaiian Electric Industries, Inc. (HEI), (NYSE: HE), the largest supplier of electricity in the state of Hawaii, and owner of one of the largest community banks in Hawaii, American Savings Bank, on whose board he currently serves. Mr. Ajello's prior experience includes serving Reliant Energy Inc., an energy retailer, from 2000 to 2009, most recently as Senior Vice President of Business Development and also as Senior Vice President and General Manager of Commercial and Industrial Marketing and President of Reliant Energy Solutions LLC, an energy retailer in over 12 states in the US. In addition, Mr. Ajello was a Senior Banker/Managing Director of the Energy and Natural Resources Group of UBS Warburg/UBS Securities LLC and affiliates from 1984 to 1998. Mr. Ajello is the immediate past Chairman of the U.S. Department of Energy's Environmental Management Advisory Board and serves on the board of trustees of Hawaii Pacific University, the largest private university in Hawaii, as well as SKAI Ventures, a venture capital and technology accelerator. Mr. Ajello has also served on advisory boards of the National Academy of Sciences, the US Department of Energy and is currently serving on the board of the Center for Houston's Future. Mr. Ajello holds a bachelor's degree from the State University of New York, an M.P.A. from Syracuse University and is a graduate of the Advanced Management Program of the European Institute of Business Administration in Fontainebleau, France.

Brian Burden (Chair) , Chairman and Independent Director

Brian Burden currently serves as an Administrator Director and a member of the Audit and Risk Committee, and the Governance, Nomination & Compensation Committee. Mr. Burden's prior experience includes working as the Chief Financial Officer of TransAlta Corporation from 2005 to 2010. Prior to joining TransAlta, Mr. Burden was the Chief Financial Officer of Molson from 2002 to 2005, a senior finance executive at Diageo PLC from 1997 to 2002 and a Finance Director of United Distillers in the United Kingdom from 1989 to 1997. Mr. Burden has been a director of the Canadian Soccer Association since June 2012 and joined the Trinidad Drilling Ltd board in Sept 2013. Mr. Burden also sits on the Advisory Council for the private company Mr. Burden holds a diploma in Business Studies from Rotherham College, is a member of the Associated Chartered Institute of Management Accountants of the United Kingdom and received an ICD.D Certification from the Institute of Corporate Directors.

Michael Fallquist , CEO & Director

Michael Fallquist is the Chief Executive Officer of the Administrator and the Trust, and currently serves as an Administrator Director. Prior to that, Mr. Fallquist served as Chief Executive Officer of Regional Energy Holdings, Inc. ("REH"), which combined with Public Power, LLC ("Public Power") to form the Company. Prior to founding REH in 2009, Mr. Fallquist served as the Chief Operating Officer of Commerce Energy, a publicly listed natural gas and electricity retailer serving approximately 150,000 customers in the United States of America. Before joining Commerce Energy, Mr. Fallquist worked for the Macquarie Group in Australia and the United States of America, where he gained experience as a member of the Strategy Group, and in various energy trading and marketing roles within the Energy Markets Division. Mr. Fallquist earned a B.A. in Economics from Colgate University and an M.B.A. from Cornell University.

Robert Gries , Independent Director

Robert Gries, Jr. previously served as Chairman of the Board and as a director of Crius Energy Administrator Inc. from September 2012 until May 2014, when he decided not to stand for re-election at the end of his term. Mr. Gries served as Chief Executive Officer of Public Power, LLC, a company engaged in the marketing of electricity and natural gas, from September 2009 until the acquisition of Public Power by the Trust in September 2012. Mr. Gries is also director of several investment funds, which, as of the date hereof, collectively own approximately 14.4% of the issued outstanding Trust units. Mr. Gries sits on various boards. Mr. Gries holds a B.A. in Education from the University of Michigan.

Ali Hedayat , Independent Director

Mr. Hedayat is the founder and Managing Director of Maryana Capital in Toronto, Canada. He previously co-founded Edoma Capital in London, a capital fund, where he worked from 2010 to December 2012, and was a partner at Indus Capital, a capital fund in London, UK, from May 2013 to March 2015. Mr. Hedayat held progressively more senior roles at the Goldman Sachs Group from 1997 to 2010, including from 2005 to 2007 as Managing Director of the European Principal Strategies group and from 2007 to 2010 as Managing Director and Co-head of the Americas Principal Strategies group. Mr. Hedayat currently serves as a Director for Restaurant Brands International Inc., and US Geothermal, and has previously served as a Director for companies in the cable, pharmaceutical and media industries. His qualifications to serve as a Director of the Company include over 20 years of investment banking experience with an emphasis in power, utilities, and distressed debt and equity in European, North American and Latin American markets. Mr. Hedayat holds a Bachelor of Commerce degree, with honours, earning a double major in Finance and Economics from McGill University.

Robert Huggard , Independent Director

Robert Huggard currently serves as an Administrator Director, a member of the Audit and Risk Committee and a member of the Governance, Nomination & Compensation Committee. Mr. Huggard is the President of Lindaura Consulting Ltd. Mr. Huggard's prior experience includes serving as CEO of the Ontario Energy Association from 2014 to 2016, leading Direct Energy, an energy retailer, as President of Home and Business Services from 2008 to 2009, as President of Canadian Operations from 2005 to 2007 and as Executive Vice President from 2002 to 2005. Prior to joining Direct Energy, Mr. Huggard was the Vice President and General Manager of Home and Business Services at Enbridge from 1999 to 2002, the Vice President of Retail Services at Enbridge Gas Distribution from 1997 to 1999 and the Vice President of Marketing at Enbridge Gas Distribution from 1994 to 1997. Mr. Huggard is an independent director on the Board of Guelph Hydro Electric Systems Inc., serving as Chair, Human Resources and Compensation Committee and sitting on the Governance and Risk Committee, as well as the Finance and Audit Committee. In addition, Mr. Huggard was Chairman and director of SCITI TR Limited and the Trustee of SCITI Total Return Trust from May 2006 to May 2011, and was also the CEO of the Administrative Agent of The Consumers' Waterheater Income Fund from 2002 to 2006. Mr. Huggard holds a B.A. Honors in Economics from Dartmouth College, an M.B.A. from the Schulich School of Business and an ICD.D Certification from the Institute of Corporate Directors.

Daniel Sullivan , Independent Director

Daniel Sullivan is a director of Allied Properties Real Estate Investment Trust and Choice Property Real Estate. He was appointed by the Right Honourable Stephen Harper, Prime Minister of Canada, as Consul General for Canada in New York from 2006 to 2011. Prior to Daniel’s appointment as Consul General for Canada, he was Deputy Chairman of Scotia Capital Inc., the corporate and investment banking division of Scotiabank, where he had a successful 38 year career. Daniel served as Chair and Director of the Toronto Stock Exchange from 1999 to 2002 and was the former Chairman of the Investment Dealers Association of Canada from 1991 to 1992. He is also a former Director of a number of public companies, including Allstream Inc., Cadillac Fairview Corporation, Camco Inc., Monarch Development Corporation and Schneider Corporation. Daniel has served on advisory boards or committees of Canada Post Corporation, Canada Deposit Insurance Corporation, the Canadian Securities Administrators and the Ontario Securities Commission. He was also Chairman of the Board of Directors of St. Michael’s Hospital from 1994 to 2000. Daniel has been a Director of a number of arts, educational and community organizations, including the National Ballet Company of Canada, CanStage, and the St. Lawrence Centre. Mr. Sullivan holds a B.A. and an M.B.A. from Columbia University and an M.B.A. from University of Toronto.

Marcie C. Zlotnik , Independent Director

Marcie C. Zlotnik is an experienced retail energy executive with more than 20 years of relevant experience. Ms. Zlotnik co-founded StarTex Power, a Texas-based retail electricity provider, in 2004 and served as Chairman and Chief Operating Officer from 2004 to 2011, when StarTex was acquired by Constellation Energy. During that time, StarTex garnered prestigious regional and national awards, including a #1 ranking in JD Power's Retail Electric Providers Texas Customer Satisfaction Study Rankings. Prior to co-founding StarTex, Ms. Zlotnik co-founded Gexa Energy and served as President and Principal Accounting Officer from 2000 to 2003. Ms. Zlotnik also served as President and Chief Executive Officer of TotalNet Communications, Inc. from 1994 to 2000. Ms. Zlotnik is the 2018 recipient of the GCPA Pat Wood Power Star Award in recognition of her significant contributions towards the advancement of competitive energy markets in Texas. She currently serves on the boards of ESCO Advisors LLC and the Business Advisory Board at The University of Texas McCombs School of Business. Ms. Zlotnik is President of the non-profit Sugar Land Skeeters Foundation Board and a member of The Committee of 200, an international organization dedicated to advancing women's leadership in business. She is also on the Advisory Board of Directors of Girl's Inc. of Greater Houston and the Gulf Coast Power Association. Ms. Zlotnik holds a B.B.A in Accounting from the University of Texas McCombs School of Business.

Board Committees and Membership

Company Officers

Michael Fallquist , Chief Executive Officer

Michael Fallquist is the Founder and Chief Executive Officer of Crius Energy. Mr. Fallquist has extensive experience in the retail energy industry having formerly served as Chief Operating Officer of Commerce Energy and Founder and Chief Executive Officer of Viridian Energy.

Beyond the retail energy industry, Mr. Fallquist has held various roles in commodities, finance and consulting including work for the Macquarie Group in Australia and in the United States, Deloitte Consulting and Towers Perrin.
Mr. Fallquist earned an MBA from Cornell University and a B.A. in Economics from Colgate University. He was named an Ernst & Young Entrepreneur of the Year® 2012 award winner in New York, Cleantech category.

Roop S. Bhullar , Chief Financial Officer

In his current role of CFO, Roop Bhullar is responsible for all aspects of finance, accounting, treasury, and corporate communications with the overall goal of growing the business in a profitable and sustainable manner.

Prior to joining Crius Energy, Roop was the finance director of Commerce Energy, a publicly traded retail energy provider with more than 150,000 customers in 10 states, where he was responsible for the accounting, treasury and financial planning, and analysis functions. Before Commerce Energy, Roop worked as the financial controller of King Country Energy, a publicly traded electric supplier and as a tax manager at Deloitte, where he provided consulting advice to energy clients and co-headed up the specialist M&A group.

Roop earned two bachelor’s degrees from the University of Waikato in New Zealand, in Management Studies (accounting) and Laws (corporate and commercial law), and an MBA in Finance & Strategy from the UCLA Anderson School of Management.

Barbara Clay , Chief Legal Officer

Barbara brings more than 18 years of legal experience to her job as Chief Legal Officer; she is responsible for all aspects of the company’s legal, compliance and human resource functions.

Prior to joining Crius Energy, Barbara was Vice President and Senior Counsel at MasterCard where she created the M&A legal function and assisted the newly formed public company to create a proper best in class Board and Governance function and SEC filing program. Prior to MasterCard, Barbara was Counsel at Boies, Schiller & Flexner in Manhattan where she concentrated on complex corporate matters, contractual issues and M&A. At Boies, she assisted her client, Caithness Energy, to win a 30-year PPA from LIPA and to build a 350-megawatt natural gas power plant in Bellport Long Island.

Barbara earned two degrees from Rutgers University, a bachelor's degree in Environmental Sciences and a master's degree in Environmental Sciences that she attained through a graduate fellowship in the Biochemical and Chemical Engineering Department. Barbara earned her J.D. at Pace Law School, with a certificate in Environmental Law.

Christian McArthur , Chief Operating Officer

As Chief Operating Officer, Christian McArthur is responsible for operations, energy supply, information technology, project management and business intelligence. Christian draws upon more than a decade of industry experience to ensure effective operations and competitive wholesale energy procurement for Crius Energy and its family of brands.

A leader in energy trading, risk management, customer analytics and forecasting, Christian was previously a Senior Vice President at Just Energy where he oversaw energy supply operations for all North American businesses. In this role, Christian led trading, risk management, customer analytics and forecasting during Just Energy’s expansion from three to 20 markets across North America, serving more than four million customers. He was also successful at new product development and innovating new revenue streams.

Christian earned a Master of Applied Science degree from the University of Waterloo in Canada and a Bachelor of Applied Science degree from Queen's University.

Kevin McMinn , Chief Sales Officer

Kevin McMinn applies nearly two decades of hands-on retail energy industry expertise to his role overseeing the company’s residential (mass market) and commercial energy businesses in the U.S.

Responsible for over a million residential customer equivalents, Kevin is a vocal advocate for energy choice and deeply committed to providing consumers in deregulated markets with a range of value-driven options for their energy supply.

Prior to joining Crius, Kevin was Chief Operating Officer for U.S. Gas & Electric and president and CEO of Energy Services Providers. Earlier in his career, Kevin advised leading energy companies based in North America and Europe as an industry consultant. He has provided guidance, project/program management, and business expertise to facilitate entry into and success in deregulated energy markets within ERCOT, NYISO, CAISO, ISONE, MISO and PJM.

Governance Information

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Governance Documents

Crius Energy Trust is committed to the principals of good corporate governance. The Board of Directors is responsible for stewardship of the affairs of the Trust and the Trust’s direct and indirect subsidiary entities (the “Crius Group”). Sound corporate governance practices are essential to the wellbeing of the Crius Group and the promotion and protection of its unitholders’ interest.

Corporate Policies