Brian Gallant and Moez Kassam have been appointed to the Canadian Olympic Foundation's (COF) Board of Directors.
The pair were welcomed to the organisation, the official charitable arm of the Canadian Olympic Committee, by chief executive Cindy Yelle and chairman Perry Dellelce.
Gallant is the former Premier of New Brunswick and boasts significant business experience, while Kassam is the co-founder of asset management company Anson Funds.
"Both Brian and Moez are wonderful additions to our Board," said Yelle, who took on her role in February.
"As we look to grow the Olympic Movement across the nation, it is important that we have Board members who are committed to making that happen.
"I am excited to see what the future has in store."
Gallant said joining the Board was an "absolute honour".
"I look forward to doing all that I can to support Team Canada," he added.
"Sports have played such an important role in my life so I look forward to helping our extraordinary Canadian athletes."
Kassam, who was named as one of Canada's "top 40 under 40" in 2018, added: "Sports and athletic competition play an ennobling role in many of our lives, and are an essential part of the shared fabric of this great nation.
"It is for these reasons that I am honoured to join the Board of Directors of The Canadian Olympic Foundation.
"Working alongside the great team at the Foundation, I hope to support our great Canadian athletes, and further widen the mission of the Olympic Movement in our country."
The COF is currently working to help athletes return to sport following the coronavirus pandemic, and now has 17 Board members.
"Having such distinguished people as Brian and Moez join our Board is a tremendous asset to the Foundation," said Dellelce.
"They both have an immense amount of business experience, which will greatly benefit the Foundation and its work raising both awareness and funds for Team Canada."