Updated April 30th, 2009

Eugene Melnyk  is a well-known Barbadian resident. He is a generous donor to various charities. He owns a beach front mansion on the South East coast of Barbados, and he races horses.
“All of the Melnyk racehorses are named after Barbados landmarks and carry the blue and gold national colours.”

Photo from Wikipedia Commons, courtesy of Cindy Pierson Dulay, quotes fromWikipedia

Eugene Melnyk (born May 27, 1959 in Toronto, Ontario) is a Canadian businessman of Ukrainian origin who now resides free of Canadian taxes in Barbados. He is the current owner, governor and chairman of the Ottawa Senators professional ice hockey club of the National Hockey League (NHL). He also owns the Mississauga St. Michael’s Majors junior-age ice hockey club. He is the former chairman and chief executive officer of Biovail Corporation and former owner of Trimel Corporation.

National Post - Melnyk tells hearing he was rarely hands-on at Biovail

Barbara Shecter, Financial Post  Published: Monday, April 06, 2009

Biovail Corp. founder Eugene Melnyk took the stand Monday in the Ontario Securities Commission’s case against him and portrayed himself as a high-level “strategist” with little direct knowledge of the inner legal and financial workings of the pharmaceutical company and a reluctance to second-guess skilled experts he hired as subordinates.

Biospace, April 30 - Biovail Issues Management Proxy Circular and Letter to Shareholders

“Unfortunately, dissident shareholder Eugene Melnyk, the Company’s former Chairman and CEO, is once again attempting to exert undue influence over the affairs of Biovail by proposing two of his own personally chosen nominees for the Board,” Mr. Wells said. “Mr. Melnyk has also proposed eight dissident resolutions purporting to address corporate governance; however, these proposals are based on Mr. Melnyk’s flawed and outdated understanding of corporate governance at Biovail. In fact, Biovail now adheres to the highest standards of corporate governance.”


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