CIFAF - Peter Anderson Announces Plan to Step Down as CEO of CI Financial by mid-2020

Canada NewsWire

TORONTO, April 16, 2019

TORONTO, April 16, 2019 /CNW/ - CI Financial Corp. ("CI Financial") today announced that the Board of directors has been advised by CEO, Peter Anderson that he plans to retire no later than the end of his employment contract.

Mr. Anderson has been the CEO of CI Financial since mid-2016. He returned to CI Financial that year to assume the position, after a 3-year absence during which he served as a director of a number of companies.  At the time of his appointment as CEO, Mr. Anderson and the Board entered into an employment agreement, which has been extended once and now terminates June 30, 2020.  Mr. Anderson has told the Board that it is his intention to retire no later than the end of this contract. The Board intends to take this opportunity for a complete review of executive management required for the future growth of the company.  The Board has asked Mr. Anderson to participate with the Board in this evaluation and to continue the executive transition which commenced under his leadership.

Mr. Anderson said "We have accomplished a lot at CI Financial since my return, and I think this is the perfect time to transition the company to younger leadership with a longer time horizon. We have excellent senior management throughout the company and I am confident CI is in a strong position to compete in this fast-moving environment. I will work with the Board and the management team to successfully transition the company."

Chairman of the Board Bill Holland said "On behalf of the Board, I want to thank Peter for his superb leadership of the company through what has been the most difficult period in the history of this industry."

CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth management company.  CI offers a broad range of investment products and services, including an industry-leading selection of investment funds.  CI is on the Web at www.ci.com/cix.

SOURCE CI Financial Corp.

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