For 135 years, the Toronto Region Board of Trade’s Annual Dinner has been the room where influential leaders and changemakers gather. Thanks to 25 years of partnership with Odgers Berndtson, last night, under the banner Dare to Lead, that legacy continued. Toronto’s Greatest Show ignited with a rousing performance of The Greatest Showman featuring dancers, contortionists moving with impossible precision, and seamless coordination. It was a display of mastery and daring, an embodiment of the ambition, risk, and vision needed to lead.
A Wake-Up Call for Canada’s Business Leaders
If the first months of 2025 have proven anything, it’s that complacency is no longer an option. That was a message and theme carried by many of the evening’s speakers. As Toronto Region Board of Trade’s President & CEO, Giles Gherson, made clear: the profound upheaval of Canada’s economic relationship with the U.S. needs to be a wake-up call.
“For a country that thrives on peace, order, and good government… the first tumultuous two months of 2025 have certainly provided a jolt,” Gherson said. “But also, a call to action.”
The reality is stark. Canada’s long-standing economic reliance on the U.S. is now a vulnerability. Suddenly, a trading relationship that has defined both nations for generations is at risk. The fallout has already begun with lost sales, frozen investments, falling consumer confidence, and jittery financial markets.
But, Gherson inspired attendees to take our economic future firmly into our own hands: “Let’s ensure 2025 goes down in history for what we did, not for what President Trump said.” (Read Giles' full remarks here.)
Toronto Talks: Bold Ideas from Leaders Shaping Our City
Toronto’s future will be shaped not just by how we respond to economic threats, but by how we seize opportunities—through innovation, inclusion, and the strength of our communities. That was the focus of this year’s Toronto Talks, where three of the region’s most dynamic voices took the stage to share their vision for what comes next.
Greta Cutulenco: We Build AI—Now It’s Time to Use It
Canada is home to some of the brightest minds in AI. From world-class universities to cutting-edge firms, our country produces technology that powers industries around the globe. But, on stage, Greta Cutulenco, CEO and co-founder of Acerta, pointed out there’s a problem: we’re not using enough of it ourselves.
Despite our strength in research and innovation, Canada’s productivity continues to decline. “Canada’s labour productivity is just 71% of the U.S. and lags behind other G7 nations,” Cutulenco noted. “We have the technology. We have the talent. We have the research. So, why aren’t we leveraging it to boost our own productivity and make Canadian businesses more globally competitive?”
The tools to close that gap are within reach, Cutulenco says, it’s the willingness to apply them that will define Canada’s future. “If we truly want to position ourselves as global leaders, we must embrace technology in the products we create, in the businesses we run, the industries we build, and the economy we drive.”
Blake Hutcheson: Canada’s Strength Is Its People
Despite the uncertainty dominating headlines, OMERS CEO Blake Hutcheson delivered a heartfelt letter to Canada. His message was clear: Canada is strong and resilient.
“Our real value isn’t just our resources,” he said. “It’s the people who call themselves Canadian—the values and grit that make this country so unassailably great, strong, and free.” But while Canada has every advantage—world-class resources, a trusted social infrastructure, and an open, diverse society—Hutcheson didn’t shy away from the hard truth: despite our many advantages, we find ourselves falling behind.
Still, his message was one of confidence. “Canada—please know this—we believe in you.” Just as Team Canada stepped up with last week’s unifying win, Hutcheson made it clear: the country may be heading into overtime, but it has what it takes to come out on top.
Teresa Resch: Building More Than a Team
Toronto is a city of opportunity, but more than that, it’s a city of belonging. Few understand that better than Teresa Resch, team President and driving force behind the city’s newest professional franchise, the WNBA’s Toronto Tempo. “Like many of you, I discovered not just opportunity here; I found home, officially becoming a Canadian citizen in January 2022,” she shared. “That’s the magic of Toronto—it welcomes you, challenges you, and, if you embrace it, it becomes a part of you.”
Now, as the Tempo prepares to tip off in May 2026, it will be more than a basketball team—it will be a movement. “Tempo is pace. It’s speed. It’s a heartbeat,” Resch explained. “And it’s what you feel when you step into the streets of this city, and in the energy of the people who call Canada home.” But with this historic moment comes a challenge. “How wide can our collective arms be to embrace these new Canadians, to provide a sense of home?”
Honouring Leadership in an Era of Uncertainty
One leader who has never shied away from a challenge is Geoff Smith, EllisDon’s Executive Chair. This year’s recipient of the Toronto Region Builder Award, presented by CPA Ontario, Smith has not only shaped Toronto’s skyline, but helped define what it means to lead with conviction, humility and humour.
Some key highlights:
On his team at EllisDon:
“Three decades ago we decided not to worry so much about where we’re going, but rather worry a whole lot about how we’re getting there, and most importantly, with whom. In other words, let’s just find the best people we can, and see what happens... What I want to emphasize is that these people didn’t merely build EllisDon, they created it. And that’s something else entirely.
Then they put me on this stage to take the credit, when in fact I’m standing here only by their grace, and on their behalf.”
On current events:
“Donald Trump is trying to extort our manufacturing, our resources, our sovereignty. It’s been very gratifying to see Canadians rise-up, pretty much as one, against this gangsterism. It is great to see that Canadians are willing to fight, and to sacrifice. Because certainly we must fight, so the sacrifices will cut deep. This is an economic Battle of Britain.”
On how to build-up Canada:
“We are seeing, it is clear, a fraying of society, which the populist politics of the day are reflecting, not causing. The trust which Canada’s business community has always enjoyed with its workers and broader society has decayed... This loss of faith is particularly acute among the young. If far too many people can no longer see the connection between a successful corporate Canada and their own personal prosperity, enough so that they’d be quite happy if we weren’t successful, how did that happen?”
Looking Ahead: The Bold Actions That Will Define Our Future
As the evening came to a close, the Board’s Chair, Yung Wu, took the stage with a challenge—and a call to action.
“For too long, complacency has left us vulnerable as market takers instead of market makers,” he said. “Let’s change that narrative now.”
With tariffs looming and global uncertainty rising, the easy choice would be to wait it out. But, as Wu made clear, hope is not a plan—and neglect comes at a cost. The real opportunity lies in turning these challenges into a catalyst for action: investing in our own productive capacity, harnessing AI, leveraging critical minerals, and building instead of shipping raw materials and talent abroad.
“This is the time for us to spend wisely… but invest boldly.”
And while the evening was about charting the future, it was also a night that coincided with a provincial election. As results rolled in, the Board hosted a watch party, providing a space for leaders to connect, discuss, and reflect on what’s next.
Read our full statement on what the outcome means for Toronto’s business community.
