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TheStreet Open House

Brian Hurley Announces His Decision To Transition From Chairman And Chief Executive Officer To Executive Chairman On January 1, 2015

Stocks in this article: MIC

Stuart Levings appointed as Successor

TORONTO, Aug. 28, 2014 /CNW/ - Genworth MI Canada Inc's. ("Genworth Canada") (TSX: MIC) Chairman and Chief Executive Officer, Brian Hurley, announced that after five years in his current roles he will transition to the newly created role of Executive Chairman effective January 1, 2015.

Concurrently, the Board of Directors today announced that Stuart Levings, Chief Operating Officer of Genworth Canada will succeed Mr. Hurley and take on the role of President and Chief Executive Officer effective January 1, 2015. To assist with the transition, Mr. Hurley will work with Mr. Levings on corporate strategy, overall business performance, board relations and leadership succession. Genworth Canada will continue to have a Lead Director on the board to provide leadership to the board of directors.

"Brian has had an outstanding career at Genworth Canada since its IPO in July 2009. He led the organization through a challenging period during which the Company increased its focus on risk management while maintaining strong customer relationships that drove growth in the business. The Board is very pleased that its succession planning process has resulted in an exceptional internal candidate, Stuart Levings, being named successor and looks forward to continuing to work with him as he takes on the CEO role," said Sidney Horn, Lead Director.

 "I am confident that Stuart's outstanding leadership, financial experience and risk management background will drive the success of Genworth Canada in the future. That, combined with a long tenured and best-in-class executive team, leaves no doubt that the management of the company is in very strong hands. I look forward to working with the leadership team in my new role as Executive Chairman to ensure there is a seamless transition in Genworth Canada's management," noted Mr. Hurley.

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