Great-West Lifeco unveils CFO succession plan

Great-West Lifeco unveils CFO succession plan | Insurance Business Canada

Insurance News

Great-West Lifeco unveils CFO succession plan

CFO designate to join by September

Insurance News

By
Mika Pangilinan

Great-West Lifeco has announced a succession plan for its chief financial officer, with Jon Nielsen joining the company as CFO designate on September 5, 2023.

The announcement comes after current CFO Garry MacNicholas made the decision to retire in the second quarter of 2024.

The plan will see Nielsen taking over the CFO role in Q1 2024, according to a press release. Meanwhile, MacNicholas will be working closely with Nielsen to ensure a seamless transition.

Paul Mahon, president, and CEO of Great-West Lifeco, welcomed Nielsen’s appointment, noting his extensive track record and experience in the financial services industry.

“With his expertise and wealth of experience, Jon will be a valuable addition to our executive team as we chart our course for our future success,” he said.

Mahon also expressed his appreciation for MacNicholas’ 40-year career with the company, which includes leadership roles in operations, actuarial, risk, and finance.

“Garry has been a source of strength for our company, helping to guide the organization through significant change during his tenure as CFO,” said Mahon. “His leadership and unwavering consistency have been key in helping us deliver for our stakeholders and navigate through significant change. I’m especially grateful for his tireless efforts to successfully lead the company’s transition to the new IFRS 17 standard – a once in a generation change.”

Great-West Lifeco’s CFO designate

Nielsen joins Great-West Lifeco from Asian-based insurer FWD, where he also served as CFO. He has extensive international experience across the insurance sector, having undertaken senior finance and risk roles in the United States, Asia, and Europe.

“Great-West Lifeco is known for its rich history, commitment to its customers, and its high-performing teams,” said Nielsen. “I’m excited for the opportunity to help drive forward the next chapter in the company’s storied history of growth and innovation.”

Nielsen holds a Master of Professional Accountancy and a Bachelor of Science in Business Administration from the University of Nebraska Lincoln.

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