It was a changing of the guard at Great-West Lifeco with the retirement of both the CEO and the chairman of the board at the Winnipeg financial services company’s annual general meeting today in Winnipeg.
Winnipegger Paul Mahon, the former head of the company’s Canadian operations succeeds Allen Loney as president and CEO of the company.
The 27-year company veteran, a St. Paul’s high school and University of Manitoba grad, will take over the corner office of the company at time when it’s getting to ready to digest its latest acquisition, the $1.75 billion purchase of Irish Life that was announced in February.
Also Raymond McFeetors, former CEO and chairman of the board since 2008 is stepping down as chair and will be replaced by Jeffrey Orr.
Orr has been a director since 2002 and is the president and CEO of Power Financial Corporation, the parent company to Great-West Lifeco and IGM Finiancial. Orr is a former CEO of IGM Financial, also based in Winnipeg.