Manulife Financial Corp. says chief executive Roy Gori will retire in May and be replaced by Phil Witherington, who is currently serving as chief executive of Manulife Asia.
The insurer says Gori will officially retire as chief executive on May 8, 2025, but will continue as an adviser to the company until Aug. 31, 2025.
Gori joined Manulife in 2015 as chief executive for the company’s business in Asia and was appointed chief executive of the overall company in 2017.
Manulife board chair Don Lindsay says the company is well-positioned for sustained future growth because of Gori’s disciplined focus on execution and the tremendous team and culture he’s built.
Manulife says Witherington served as chief financial officer of the company for five years before he took over running the insurer’s business in Asia.
Witherington is expected to continue in his current job as he works with Gori on transition planning and will name a successor in the coming months.
This report by The Canadian Press was first published Nov. 18, 2024.