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City hires new chief financial officer [Executive Appointments Monitor Worldwide]
[March 28, 2014]

City hires new chief financial officer [Executive Appointments Monitor Worldwide]

(Executive Appointments Monitor Worldwide Via Acquire Media NewsEdge) City of Powell River has appointed a new head of finance. Certified general accountant Shehzad Somji will be joining the city team May 1 after 19 years with First Credit Union, where he was chief financial officer (CFO) for 10 of those years.

In a press release, Mac Fraser, chief administrative officer, stated that Somji's hiring as CFO was a strategic move that brings added strength to the team overall. "With his private sector experience, Shehzad brings the skills and experience required to ensure that the city's finances will be managed in a strategic, results-oriented and sustainable way. He has implemented a number of significant initiatives including a merger, the implementation of international reporting standards and multiple banking system conversions." Fraser added that Somji's interpersonal skills have enabled him to maintain positive relationships both within and outside of First Credit Union and the city is anxiously anticipating his arrival.

Mayor Dave Formosa said, "We look forward to his leadership style and his creative problem-solving abilities. We've taken the opportunity to re-focus the role of the CFO and Shehzad is an excellent fit." Fraser explained that Somji is also a recognized leader in Powell River having held executive and board positions in local organizations including Powell River Public Library, inclusion Powell River (formerly Powell River Association for Community Living) and Powell River Community Foundation. "This familiarity with Powell River means we've gained a chief financial officer who is personally invested in seeing Powell River succeed," said Fraser. "He understands the importance of ensuring value for citizens beyond just dollars." Provided by, an company (c) 2014 All rights reserved.

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