Stephen Bellringer has resigned as Orca Bay President &
CEO effective December 1, two years after leaving the energy
field to lead the organization that owns the Grizzlies and
Canucks, according to Grant Kerr of the Toronto GLOBE &
MAIL. Bellringer "moves into the hotel industry" to become
President & CEO of Canadian Hotel Income Properties and
Investment Trust. Orca Bay appointed long-time company exec
Stanley McCammon as his replacement. McCammon has spent the
past five years serving as Deputy Chair of Orca Bay,
President of Orca Bay Capital and Chair of Northwest Sports
Enterprises (Toronto GLOBE & MAIL, 9/22). The FINANCIAL
POST's Keith Damsell reports that during Bellringer's "two
years at the helm of Orca Bay, the sports giant has had its
share of troubles" (FINANCIAL POST, 9/22). In Vancouver,
Gary Mason writes that Orca Bay execs "were stunned" by the
news. Mason: "Regardless of how Bellringer spins his
departure, there will be those who will insist he's
abandoning a sinking ... arena" (VANCOUVER SUN, 9/22).
COULD CANUCKS BE ON THE MOVE? In Vancouver, Michael
Campbell reported that "given that the Canucks lost" C$36M
last year and will lose C$20-30M this year, "their departure
is a real possibility." Campbell, on the Canucks and
Grizzlies: "The real problem is not that the teams lose
money in any given year: it's that given the current
operating realities, they'll never break even" (SUN, 9/21).
