Manulife, Great-West Life announce management changes

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On Thursday, Manulife Financial Corp. and The Manufacturers Life Insurance Company announced the election of Richard B. DeWolfe as chair of the board, effective immediately.

DeWolfe joined Manulife’s boards in 2004 and has served as vice-chair since Dec. 1, 2012, ensuring a smooth transition with the retiring chair, Gail Cook-Bennett.

Gail Cook-Bennett has retired from the board, having reached the board retirement age.

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The company also announced the new appointments of Sheila Fraser as chair of the audit committee and Robert J. Harding as chair of the corporate governance and nominating committee and the reappointments of John R.V. Palmer as chair of the risk committee and John M. Cassaday as chair of the management resources and compensation committee.

At Great-West Lifeco’s annual meeting in Winnipeg on Thursday, D. Allen Loney announced his retirement as president and CEO of Great-West Lifeco, Great-West Life, London Life and Canada Life.

Paul A. Mahon has been appointed to succeed Loney as president and CEO of the companies.

Raymond L. McFeetors also announced his decision to step down as chair of Great-West Lifeco, Great-West Life, London Life and Canada Life, positions he has held since 2008.

The insurance company has appointed R. Jeffrey Orr as the new chair of the boards of the companies.

In another move, J. Dave Johnston has been appointed president and chief operating officer, Canada of Great-West Life, London Life and Canada Life.