Empire Life Chief Executive Officer to Step Down May 30, 2014
March 05 2014 - 4:15PM
Marketwired
Empire Life Chief Executive Officer to Step Down May 30, 2014
TORONTO, ONTARIO--(Marketwired - Mar 5, 2014) - Duncan Jackman,
Chairman, Chief Executive Officer and President of E-L Financial
Corporation Limited ("E-L") (TSX:ELF) (TSX:ELF.PR.F) (TSX:ELF.PR.G)
(TSX:ELF.PR.H) and Chairman of the Board of Directors of The Empire
Life Insurance Company (Empire Life) today announced that Leslie C.
(Les) Herr will be leaving his position as President and Chief
Executive Officer of Empire Life effective May 30, 2014.
Mr. Herr joined Empire Life in
1999 and has served as President and CEO for the past six
years.
"Les' record of success is indisputable," said Mr. Jackman,
"Through what was the worst economic downturn in decades, he has
renewed the company's core capabilities, deepened distribution
relationships, and built a strong, capable management team, all
resulting in a well-capitalized and financially stable company. On
behalf of the Board of Directors, I thank him for his many
significant contributions to Empire Life."
"I have enjoyed every day of my 15 years with this great
company, and have felt especially proud to serve the last six as
CEO," said Mr. Herr, "It's hard to step away when we have just
delivered record results, but there is never a perfect time. I
believe the company is in great shape for a new leader to build on
what my team and I have accomplished and take Empire Life to its
next level of success."
The search for a successor is underway and the Empire Life Board
expects a smooth transition. Mr. Herr will continue to provide
advice to the Board and the new President and CEO following his
departure in May. He will also step down from his role as Chairman
of the Board for Empire Life Investments Inc., a subsidiary of
Empire Life, effective May 30, 2014.
About Empire Life:
A subsidiary of E-L Financial Corporation Limited and in
business since 1923, Empire Life helps Canadians build wealth and
protect their financial security with competitive individual and
group life and health insurance, investment and retirement
products. The company's vision is to be known for simplicity, being
easy to do business with and having a personal touch.
E-L Financial Corporation LimitedRichard B. CartyVice-President,
General Counsel and Corporate Secretary(416) 947-2578(416)
362-2592The Empire Life Insurance CompanyJulie
TompkinsVice-President, Human Resources and Communication
Services(613) 548-1890, ext. 3301(613) 328-9577
(cell)julie.tompkins@empire.ca
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