Great-West Lifeco announces CFO succession plan to drive long-term growth

Jon Nielsen has been appointed as the CFO designate of Great-West Lifeco Inc., effective September 5, 2023, and will assume the role of Chief Financial Officer in the first quarter of 2024.

Great-West LifecoGarry MacNicholas, the current CFO, has made the decision to retire in the second quarter of 2024. To ensure a smooth transition, MacNicholas will be working closely with Nielsen during this period.

“I’m pleased to welcome Jon to our team. He has both an impressive track record and deep experience across financial services,” said Paul Mahon, President and CEO, Great-West Lifeco.

“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.”

Nielsen joins Lifeco from Asian-based insurer, FWD, where he served as Chief Financial Officer. He has extensive international experience from across the insurance sector, having undertaken senior finance and risk roles in the US, Asia, and Europe.

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“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.”

MacNicholas, who has been with Great-West Lifeco for 40 years, is retiring after a successful career that spanned 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.”

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