Irving Kipnes

Executive Chairman

Mr. Kipnes founded Liquor Depot (one of the original companies involved in the formation of Liquor Stores Income Fund) in 1993, and served as its Managing Director and Chief Executive Officer throughout its eleven year history. Mr. Kipnes is also the President and Managing Director of Delcon Development Group, a group of private companies actively involved in the development of shopping centres and real estate subdivisions, which he founded in 1962. From 1982 to 1987, Mr. Kipnes was the largest shareholder, Co-Chairman, President and Chief Executive Officer of North West Trust Company. Mr. Kipnes has also served on the board of directors of Alberta Liquor Store Association, since its inception and was its first elected President. Mr. Kipnes was the Founding Chair of Alberta Liquor Industry Round Table, a position he held for six years and currently sits as past chair. Mr. Kipnes is active in many charitable endeavours and has served on the boards of directors of several charitable and community organizations including the University Hospital Foundation, co-Chair of the University Hospital Foundation Campaign for Prostate Health, the Campaign Cabinet of the Alberta Heart Institute, the Campaign Cabinet of the Capital Care Foundation (for relocation of the Mewburn Veteran's Centre which established the Dianne and Irving Kipnes Centre for Veterans) and Development Chair to develop a Jewish seniors residence in Edmonton. Mr. Kipnes graduated with a Bachelor of Science in Chemical Engineering (honours) in 1959 and worked as an Engineer for Imperial Oil until May 1963.

Henry Bereznicki

Board Chairman

Mr. Bereznicki founded Liquor World (one of the original companies involved in the formation of Liquor Stores Income Fund) in 1993, served as its President and Chief Executive Officer throughout its eleven year history.  Mr. Bereznicki has been a partner in North American Development Group (a private real estate developer) and its predecessors since 1987 and has held the position of President, Western Region of Centrecorp and predecessors for the past seven years.  Centrecorp is a Canadian and U.S. based real estate investment and services company, active in the development, acquisition, management and leasing of shopping centres across Canada and, through wholly owned United States subsidiaries, in the United States.  Mr. Bereznicki is responsible for Centrecorp's activities across the four western Canadian provinces as well as Colorado and Arizona.  Mr. Bereznicki served on the board of directors of ALSA (Alberta Liquor Store Association) for a period of five years from inception and is involved as a member and former executive in the Alberta Chapter of YPO (Young Presidents Organization).  Mr. Bereznicki holds a Bachelor of Science degree in Civil Engineering, with distinction, from the University of Alberta as well as a Masters Degree in Business Administration (MBA) from Harvard University.

R.John Butler, Q.C.,

Director

Mr. Butler is counsel to Bryan & Company, a law firm.  Mr. Butler is a member of the boards of directors of TELUS Corporation, Trans Global Insurance Company, and Trans Global Life Insurance.  Mr. Butler holds a Bachelor of Arts and a Bachelor of Law from the University of Alberta .  Mr. Butler is also the Chairman of the Audit Committee of the Kisonyaminaw Heritage Trust Fund, an independent trust established in 2007 for the exclusive benefit of the current and future generations of the Samson Cree Nation.

Jim Dinning
Director

Since 2004, Mr. Dinning has served as Chair of  Western Financial Group, a leading western Canadian financial services company. Mr. Dinning was Executive Vice President of TransAlta Corporation (power generation and wholesale marketing company) from 1997 to 2004. Mr. Dinning served as Member of the Legislative Assembly of the Province of Alberta from 1986 to 1997 and held several key positions including Provincial Treasurer.  Mr. Dinning received the Distinguished Service Award from the Institute of Chartered Accountants of Alberta in 1997 and an Honorary LLD from the University of Calgary in 2002.  Mr. Dinning is a director Russel Metals, Oncolytics, Parkland Income Fund, and Bronco Energy Ltd.  In 2007, Mr. Dinning completed the Directors Education Program of the Institute of Corporate Directors.

Glen H. Heximer,C.A.

Director

Mr. Heximer is a retired partner of Ernst & Young LLP (formerly Clarkson Gordon) where, from 1974 to 2000, he was the Senior Tax Partner of the Edmonton office specializing in advising entrepreneurial businesses and public companies.  Mr. Heximer is a 1963 graduate of the University of Western Ontario (Honours Business Administration) and obtained his designation as a Chartered Accountant in 1966.

Robert S. Green
Director

Mr. Green is the President of North American Development Group, a company which he joined in 1985, after specializing in the practice of commercial real estate law with a major Canadian law firm.  Mr. Green has over 23 years of experience in managing, leasing, developing and acquiring retail properties throughout North America.  Mr. Green was formerly a member of the board of directors and investment committee of Centrefund Reality Corporation and Sterling Centrecorp Inc., both public real estate companies listed on the Toronto Stock Exchange.  Mr. Green is also a founding partner and President of Centrecorp Management Services, a retail/commercial real estate service provider in North America with operations in both Canada and the United States.  Mr. Green is a graduate of, and obtained an LLB from, the University of Toronto Law School.

David B. Margolus, Q.C.

Director

Mr. Margolus is counsel to, a partner of, and former Managing Partner (for 13 years) of Witten LLP, with a legal practice focused primarily in the areas of corporate, commercial and real estate.  Mr. Margolus is a trustee of of XS Cargo Income Fund and a director of its general partner.  Mr. Margolus is a director of The Edmonton Airport Authority and a director of PowerComm Inc.  Mr. Margolus has served as legal counsel to Alberta Liquor Store Association since its inception in 1994.

Gary Collins

Director

Mr. Collins is the Senior Vice President of Belkorp Industries Inc. and serves as a Director of Lantic Sugar Limited, the administrator of Rogers Sugar Income Fund.  Mr. Collins is also a member of the Board of Catalyst Paper Corporation and Jazz Air Income Fund.  Mr. Collins was President and CEO of Harmony Airways from December 2004 to December 2006.  Previously Mr. Collins spent 13 years in public service, most recently as British Columbia 's Minister of Finance from 2001 to 2005

Rick Crook

Director, President & Chief Executive Officer

Mr. Crook has held the following positions within Liquor Stores GP: Chief Operating Officer, Executive Vice President and President.  Prior to that Mr. Crook was the Senior Vice President and General Manager of the Liquor Depot Corporation and also spent twelve years in sales and marketing with large international producers of wine and spirits.  Mr. Crook is  a director of the Alberta Liquor Store Association and also serves on the board of directors of the University Hospital Foundation.

Scott Morrow

Chief Operating Officer

Mr. Morrow joined the fund in February 2010. Prior to that, Mr. Morrow has held positions of increasing responsibility in the area of operations with two leading national drug store chains over the past 23 years (of which 13 years were spent in senior management), including his role as Vice-President of Western Operations. Mr. Morrow received his Bachelor of Management degree from the University of Lethbridge in 1995.

Patrick de Grace, C.A.

Vice President of Finance and Chief Financial Officer

Mr. de Grace joined the Fund on January 1, 2006.  Prior to that, Mr. de Grace was an independent consultant.  From 1991 to August 2001, Mr. de Grace held finance roles of increasing responsibility in the national retail grocery industry.  Mr. de Grace received his Bachelor of Arts from the University of Alberta in 1973 and his Chartered Accountant designation in 1980.