C-suite shakeup at major insurer includes internal promotions and return of industry veteran
Manulife is making a slew of changes to its executive leadership team, including new CEOs for key geographic segments and the return of a former colleague.
Michael Doughty, CEO of the Canada Segment, has decided to retire at the end of September after more than thirty years of service.
"Mike is a tremendous leader who embodies our values, pursues excellence every day, and does it with a deep sense of care for our colleagues, customers, and communities," said Roy Gori, President & Chief Executive Officer of Manulife. "As he embarks upon this next chapter, he does so with our deep gratitude for his many contributions, and our very best wishes."
Naveed Irshad will succeed Doughty as CEO of the Canada segment. To ensure a smooth transition, Irshad’s appointment will begin on June 1, 2022.
A veteran with 30 years of industry experience, Irshad is currently the Global Head of Inforce Management and the North American Legacy Business at Manulife, where he has successfully led projects that have released more than $8 billion in capital. Prior to that, he was President & CEO of Manulife Singapore.
Manulife is also welcoming back Marc Costantini on June 13, who will take over as Global Head of Inforce Management. Constantini rejoins the organization after several years of holding leadership roles at other organizations; he is presently the President & CEO for Corporate Development, Strategy and Digital Solution at Munich Re.
Meanwhile, Damien Green has been named CEO of the Asia Segment, succeeding Anil Wadhwani who has stepped down from the position.
"[This] announcement underscores the depth of our leadership bench with the appointments of Naveed and Damien, as well as the attractiveness of our franchise with an accomplished individual like Marc returning," Gori said. "These outstanding leaders bring strong track records for delivering results and have a shared passion for building winning teams. I look forward to working with them as we continue to drive growth across our franchise and advance our digital, customer leadership efforts."
