Shad is keeping a close eye on the current economic climate and its potential impacts on the Shad Valley program. On careful consideration of Shad’s options, our Board of Directors and I concluded that it is prudent to take action immediately to reduce our scale and cost of operation rather than risk jeopardizing the sustainability of Shad Valley in the long term. For 2009, we’ve reduced the number of Shad Valley programs to 10 from 12. Shad Valley Trent and Shad Valley Calgary will not be offered in 2009. We have made a number of changes to our internal staffing and operations as well, to ensure we’re positioned for the challenges ahead.
Shad has the enormous responsibility each year of carefully managing the financial resources provided to us by our many partners, so that we can achieve our core mission of enhancing Canada’s innovation and entrepreneurial capacity. Our partners include our students, their parents, governments, corporations and our host universities. Although the tough decisions we have had to make are very painful for all members of the Shad community, we are committed to stewarding our resources to ensure that this great program will continue to thrive and be successful in executing its mission in the future.
Barry Bisson, President
Friday, October 31, 2008
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