Morneau Shepell Ltd. has new leadership as Stephen Liptrap took over as president and chief executive officer from Alan Torrie on Friday.
Liptrap, who has been with Morneau Shepell since 2008, became the firm’s chief operating officer almost a year ago. In taking over the role, he emphasized several strategic areas during remarks at the firm’s annual meeting of shareholders on Friday. They include building the firm’s administrative solutions business; expanding its employee assistance program services globally; leading in absence management; and using big data to create new revenue streams. Liptrap also noted the importance of Morneau Shepell’s consulting services and the need to do business more easily.
Read: Liptrap to succeed Torrie as Morneau Shepell CEO
Liptrap’s move to the top job comes as the firm is reporting a solid performance for 2016, with revenues up $25 million to $592.1 million. It also reported adjusted margins of about 19 per cent for the year.
Torrie, meanwhile, has retired from Morneau Shepell after 12 years with the firm. “On behalf of the board, we are thankful for Alan’s many contributions to Morneau Shepell,” said Jill Denham, chair of the board.
“Under his leadership, the company expanded its geographic footprint and delivered exceptional performance, while creating a work environment with strong values and a focus on innovation. We are grateful for his significant impact and wish him all the best in the future.”
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