Brian Levitt, current director of TD Bank Financial Group, will replace John Thompson as the new chairman of its board of directors, the bank announced Tuesday.
The change takes effect on Jan. 1, 2011.
Thompson has served as non-executive chairman of TD since April 2003.
“[Thompson] has made the personal decision, as part of an orderly board succession, to step down from this position,” the bank said in a statement. He will remain a board member.
Levitt brings plenty of experience to the position, and has been on TD’s board since December 2008.
He is also a member of the board of directors with both Domtar Corp. and BCE Inc., while serving as vice-chairman of the think-tank C.D. Howe Institute.
As well, Levitt works as a partner and co-chair of Montreal law firm Osler, Hoskin & Harcourt LLP.
