C$ unless otherwise stated
TSX/NYSE/PSE: MFC
SEHK: 945
TORONTO, Dec. 8, 2017 /CNW/ - Richard DeWolfe, Chair of the Board of Directors
of Manulife Financial Corporation and The Manufacturers Life
Insurance Company, today announced on behalf of the Board the
appointment of John M. Cassaday as
Vice Chair, effective December 7,
2017.
Mr. DeWolfe will retire from the Board in May 2018, having completed his term. Mr.
Cassaday, as Vice Chair, will work with Mr. DeWolfe in managing a
smooth transition of the affairs of the Board until the annual
meeting on May 3, 2018, following
which Mr. Cassaday will become Chair of the Board.
"I could not be more pleased that John will be the next Chair of
the Board," Mr. DeWolfe said. "John was selected following a
comprehensive and diligent process in which all of Manulife's
directors took part, and we are privileged that someone with his
vast experience, leadership strength and track record of important
Board contributions will take on this critical role."
"Thanks to his many years of service on Manulife's Board, John
has a unique perspective on both the history and the future of our
business, which will be particularly valuable as we work to realign
and transform our Company around our customers," said Roy Gori, Manulife President and Chief Executive
Officer. "I look forward to partnering closely with John and the
Board as we seek to delight our customers, engage and inspire our
employees and drive significant shareholder value."
Mr. Cassaday, who joined the Board in 1993, was previously
President and Chief Executive Officer of Corus Entertainment Inc.
Prior to Corus, he was Executive Vice President of Shaw
Communications, President and Chief Executive Officer of CTV
Television Network and President of Campbell Soup Company in
Canada and the United Kingdom.
Mr. Cassaday is a director of Sleep Country Canada Holdings
Inc., Spin Master Corp. and Sysco Corporation and has an MBA
(Dean's List) from the Rotman School of Management as well as an
Honorary Doctor of Laws from the University of
Toronto.
About Manulife
Manulife Financial Corporation is a leading international
financial services group that helps people achieve their dreams and
aspirations by putting customers' needs first and providing the
right advice and solutions. We operate primarily as John Hancock in the
United States and Manulife elsewhere. We provide
financial advice, insurance, as well as wealth and asset management
solutions for individuals, groups and institutions. At the end of
2016, we had approximately 35,000 employees, 70,000 agents, and
thousands of distribution partners, serving more than 22 million
customers. As of September 30, 2017,
we had over $1 trillion (US$806 billion) in assets under management and
administration, and in the previous 12 months we made $27.1 billion in payments to our customers. Our
principal operations are in Asia,
Canada and the United States where we have served
customers for more than 100 years. With our global headquarters in
Toronto, Canada, we trade as 'MFC'
on the Toronto, New York, and the Philippine stock exchanges
and under '945' in Hong Kong.
SOURCE Manulife Financial Corporation