North Bay's chief financial officer resigns to take new job in Sudbury

North Bay's Chief Financial Officer/Treasurer has resigned from her position at the City of North Bay to take on a similar role in Greater Sudbury.  

Margaret Karpenko spent the last 15 years as the Chief Financial Officer and Treasurer at the City of North Bay, where she was responsible for all financial matters. Prior to that, she held financial and administrative roles at the City of Windsor for several years. 

The City of Greater Sudbury released the news Friday morning after a national search led by Odgers Canada, Karpenko will be the City’s new Executive Director of Finance and Chief Financial Officer. 

“I’m excited that Margaret is joining the team here in Greater Sudbury,” said Shari Lichterman, Chief Administrative Officer for the City of Greater Sudbury, in a release.

“Margaret brings experienced executive leadership, an understanding of our challenges in Northern Ontario, and a strong background in municipal financial stewardship to this critical role on our team.”

In addition to holding a Certified Public Accountant (CPA) designation and a Bachelor of Commerce degree from the University of Windsor, she serves on the board of Asset Management Ontario (AMONTario).

“I’m honoured to step into the role of Executive Director of Finance and Chief Financial Officer and to join the City of Greater Sudbury team,” said Karpenko. “I look forward to working collaboratively with staff, Mayor, and Council to ensure the City is well-positioned to support its growth, advance strategic priorities, and embrace future opportunities.”

Karpenko will begin her new role on September 2.

See related: Details of Chirico's expenses in new FOI documents

See related: Push for transparency as North Bay Council drops audit motion

However, the job change comes amid a major financial controversy within the City of North Bay relating to Mayor Peter Chirico's expenses. 

Chirico’s corporate credit card expenses from 2023, 2024 and 2025 have been made public through Freedom of Information (FOI) documents. 

The documents show a variety of charges, including meals, gas, golf fees, and hockey tickets. Karpenko would have scrutinized those before being signed off by CAO John Severino.

North Bay residents Nicole Peltier and Kevin Ferris provided access to lengthy documents, 904 pages, to BayToday - they are available here.  

Mayor Chirico claims that all personal charges were reimbursed after being flagged by the city’s finance department. 

“I have done nothing wrong,” he said in a June press conference. 

The City’s Integrity Commissioner is investigating the matter further.

Following public concerns, a motion was introduced in Council calling for a third-party forensic audit of the mayor’s expenses, but it was ultimately voted down. Some councillors noted that the Integrity Commissioner’s scope is “very narrow.” Council later approved a bylaw requiring quarterly online disclosure of expenses by all council members, aiming to increase transparency.

With files from Will Konken