#Canada #Winnipeg #Great-West Lifeco #Paul Mahon #David Harney

Great-West Lifeco Announces CEO Transition

In a significant leadership change, Great-West Lifeco Inc. has confirmed that David Harney will take over as President and CEO, effective July 1, 2025, succeeding the long-serving Paul Mahon. This transition marks an important milestone for the company, which has seen remarkable growth and stability under Mahon's leadership during his twelve-year tenure.

Paul Mahon, who has served Great-West Lifeco for an impressive 39 years, will transition to a Senior Advisor role until early 2026. This strategic move aims to facilitate a smooth handover as Mahon shifts his focus from day-to-day operations to mentorship, ensuring the continued navigation of the company through evolving market dynamics. The Board has expressed gratitude for Mahon’s extraordinary contributions, emphasizing his pivotal role in strengthening the organization and achieving record performance over the years.

"Paul's remarkable leadership not only fortified the company’s position but also reshaped its future by consolidating brands and focusing on innovative growth strategies," noted Jeffrey Orr, Chair of Great-West Lifeco’s Board of Directors. Under Mahon’s stewardship, Lifeco successfully amalgamated three brands into one coherent entity, Canada Life, and broadened its footprint in the U.S. marketplace with the successful launch of Empower. Throughout the COVID-19 pandemic, his commitment to employee and customer welfare has demonstrated his unwavering dedication and principled leadership.

In response to his retirement announcement, Paul Mahon reflected on his journey with Lifeco, stating, "It has been an honor to lead this remarkable organization and work alongside an incredibly dedicated team. I am confident that Lifeco is well poised for sustained growth and innovation in the years to come.” It’s clear that Mahon’s vision laid a strong foundation for the company, cultivating a culture that prioritizes achievement and community impact.

Taking over the reins, David Harney brings over three decades of industry experience to his new role. Having held various senior positions within the company, Harney has developed a deep understanding of Lifeco’s operations and strategic priorities. Notably, he served as CEO of Irish Life and was named President and Chief Operating Officer for Europe in 2020. Harney’s appointment reflects Great-West Lifeco’s commitment to succession planning, ensuring a seamless leadership transition and continuity in strategy execution.

"David is unequivocally the right choice to spearhead our growth initiatives," stated Orr, highlighting Harney’s proven track record in building cohesive teams that excel in performance. Mahon also expressed confidence in his successor’s abilities, noting that Harney’s blend of curiosity and customer-centric focus will be invaluable as Lifeco navigates the future.

In a prepared statement, Harney shared his excitement about the challenges and opportunities ahead, stating, "Exciting things are on the horizon. I am eager to collaborate with our teams, customers, and partners to leverage our strong foundation and propel Lifeco onward. Our focus will remain steadfastly on fostering trusted relationships and delivering substantial impacts across our businesses."

As Great-West Lifeco embarks on this new chapter, it continues to bolster its mission of fostering stronger, more inclusive, and financially secure futures through dedicated customer relationships. Underpinned by a rich legacy, the company is now firmly set on a path that blends innovative strategies with robust operational stability. With a proven leadership team ready to guide Great-West Lifeco into an invigorating future, stakeholders eagerly await the exciting developments ahead.

For more information about Great-West Lifeco Inc. and their ongoing initiatives, visit greatwestlifeco.com.