Ernie Eves - Resignation

Resignation

Eves' time as Opposition leader was more fruitful, when he led attacks against the McGuinty government's first budget, particularly the Ontario Health Premium —which broke the Liberals' campaign pledge not to raise taxes and the elimination of health services such as eye examinations and physical therapy. Despite being considered a lame-duck leader, Eves led in opinion polls for that period of time.

In early 2004, Eves announced his intention to resign prior to the fall 2004 legislative session. A leadership election chose John Tory as Eves' successor on September 18, 2004; Eves was officially neutral in the contest. Tory and Eves share a number of attributes, both coming from the so-called Red Tory wing of the party.

Eves had been widely expected to resign his seat in the provincial legislature during the 2004 Christmas holidays in order to allow Tory an opportunity to enter the Ontario legislature through a by-election. Eves' resignation was not forthcoming, however. After staff in Tory's office leaked Eves' impending resignation, Eves reportedly refused to resign, thereby undercutting the new leader's credibility. Another report contends that Eves was refusing to resign before securing an appointment to the Canadian Senate or to a public board. As federal and provincial patronage appointments were in the hands of Liberals, it would have been difficult for John Tory to persuade either the provincial or federal government to make such an appointment.

On January 31, 2005, Eves resigned his seat in the provincial legislature. Although he had received several high profile job offers from the private sector after stepping down as leader, he had reportedly turned them down. In 2007 he joined Jacob & Company Securities Inc. (now Jacob Securities Inc.), a Toronto-based boutique investment bank that specializes in the renewable energy and clean technology sectors, where he served as Executive Chairman until July 2012.