Citing his company’s conflict of interest rules, Justin Frape has stepped down as chairman of the Thunder Bay Chamber of Commerce.
Vice-chairman Michael Nitz will take over for the remainder of Frape’s term, which is scheduled to end on Nov. 30.
The sale last month of Frape's company, Telos Business Solutions, to BDO Canada forced the issue. The latter firm is the auditor for the Chamber of Commerce, and under the Institute of Chartered Accountants of Ontario rules of conduct, he couldn’t continue as board chairman.
“As a direct result of this rule, and for no other reason, I had no choice but to resign from my position of director and chair of the board. It wasn’t because of a lack of interest, nor did I decide to wash my hands of my community commitments following the sale of my business,” Frape said.
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