CANADA - OMERS president and CEO Paul Haggis will be stepping down later this year, after the new governance model changed the nature and focus of the role.
Haggis said there was need for a change since he had reached the targets he had been hired to deliver and had set the $48bn fund on the right path.
“When I was hired, my job was to build OMERS’s investment presence globally and deliver strong results. The plan’s new governance model has changed the nature of my job,” Haggis said.
He added the investment strategy would not change, but going forward the new CEO would focus on the new governance model and implementing the new supplemental pension plans.
Chair of the OMERS board David Kingston commented: “Paul was brought in to address the changing investment needs of the organisation.
“He has made many significant contributions during his time here, overseeing a major reorganisation, bringing in a strong, new leadership team and implementing a successful new asset mix strategy that has generated exceptional returns.”
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