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CCCA62_026-033.qxd:CCCA_V1No2_Recruiting-V1.qxd 09/14/2007 03:05 PM Page 26 Cover Story Global GCs Taming a host of multinational issues As business goes global, general counsel are being asked to guide multinationals through a wave of consolidations, steer corporate n late 2005, as global merger behemoths through a web of activity hit new highs not seen compliance requirements, respond since the dot-com era, Simon Fish took up a new job at Inco, to the latest PR disaster making Ijust when the Canadian nickel headlines in the news — and oh, producer launched its bid for rival yes, they have to manage a multi- Falconbridge. “It was an interesting peri- national law department. od,” recalls Fish, executive vice-president, general counsel and secretary of CVRD ByYves Faguy Inco in Toronto. “I was enticed by the prospect of having a lead role in the transaction, and of becoming general counsel of a Canadian-based global mining and metal company.” Had the deal been approved by shareholders, Inco would have become the world’s largest producer of nickel. Alas, it was not in the cards. In fact, Inco was already fending off an unsolicited bid from another Canadian rival, Teck Cominco, on the condition that Inco abandon the deal with Falconbridge.“I came into the job with my eyes wide open,” says Fish.“I knew that if we weren’t successful in our approach to Falconbridge, then we ourselves would become a target.” In the end, Anglo-Swiss mining giant Xstrata aggressively pushed its own BRIAN BUCHSDRUECKER/BOOKSTRUCKER PHOTOGRAPHY hostile bid for Falconbridge and, ultimately, won the sweepstakes. In the aftermath, Inco’s shareholders accepted an all-cash offer extended by Brazilian mining company CVRD to buy the company for $17 billion.“We needed to find the best deal for shareholders,”says Fish.“CVRD made it easy for us by coming in with a very big bid.” 26 CCCA Canadian Corporate Counsel Association FALL 2007