Great-West Lifeco announces President and CEO transition
Great-West Lifeco announced that Paul Mahon will retire as President and CEO of both Great-West Lifeco and Canada Life on July 1. He will be succeeded by David Harney, a longtime executive who most recently served as President and COO, Europe, and now also oversees the reinsurance business. Mahon will stay on as Senior Advisor until early 2026 to support the transition.
“It has been an honour to lead Lifeco and work alongside such a dedicated and values driven team. We’ve built a strong foundation for the future. Lifeco’s management team represents an exceptional combination of strengths including an achievement-oriented and people-centered culture that is driving strong performance across the business. The company is on a path of sustained growth, and I couldn’t be more confident in the future.” – Paul Mahon.
“David brings a depth of experience, and a proven ability to execute to his new role. He has consistently built strong teams that drive performance. Our Board looks forward to working closely with David in his new role as we pursue Lifeco’s growth strategy, with a clear focus on creating value, and delivering long-term impact.” – Mr. Orr.
“David is a strong and natural choice to build on our momentum. I’ve worked closely with him for over 12 years and seen his ability to drive positive results, time and again. His leadership is shaped by his curiosity, focus on deeply understanding the changing needs of customers, and staying ahead of market dynamics to shape strategy. I look forward to supporting him through the transition.” – Mr. Mahon.
“I’m personally energized by the opportunity to work with our colleagues, customers and partners as we build on the company’s solid foundation and tremendous momentum. We have a winning strategy, strength of leadership, and client focused culture that will serve us well as we deepen trusted relationships and drive impact across all our businesses. Thank you to Paul for your leadership and care in guiding the company over the past 12 years.” – David Harney.
“Paul’s contributions to our organization have been extraordinary. Under his leadership the company has been repositioned and strengthened, achieving record performance and delivering lasting value for our shareholders. On behalf of the Board, management, colleagues, and all those associated with our companies, I thank him for his leadership, vision, and impact.” – Jeffrey Orr, Chair of Lifeco and Canada Life’s Board of Directors.
