Great-West Lifeco announces management appointments

TSX:GWO

WINNIPEG, May 2, 2013 /CNW/ - At Great-West Lifeco's annual meeting held today in Winnipeg, Raymond L. McFeetors indicated his decision to step down as Chairman of Great-West Lifeco, Great-West Life, London Life and Canada Life, positions he has held since 2008. Mr. McFeetors will continue to serve as a Director, continuing his distinguished 45-year association with the companies, which included a longstanding tenure as President and Chief Executive Officer.

Mr. R. Jeffrey Orr has been appointed to succeed him as Chairman of the Boards of the companies. Mr. Orr has been a Director since 2002 and has been Chairman of the Executive Committee of the Boards since 2008.  He is President and Chief Executive Officer of Power Financial Corporation.

Also at the annual meeting, D. Allen Loney announced his intention to retire as President and Chief Executive Officer of Great-West Lifeco, Great-West Life, London Life and Canada Life. Mr. Loney has held these positions since 2008, and has contributed to the success of the companies as CEO and throughout his 42-year career with the companies. Mr. Loney will continue to serve as a Director.

Mr. Paul A. Mahon has been appointed to succeed Mr. Loney as President and Chief Executive Officer of the companies. Mr. Mahon has been associated with Great-West Life for 27 years in increasingly senior roles, including the last five years as President and Chief Operating Officer, Canada of Great-West Life, London Life and Canada Life.

Mr. J. Dave Johnston has been appointed President and Chief Operating Officer, Canada of Great-West Life, London Life and Canada Life. Mr. Johnston has been associated with Great-West Life for 35 years in a number of increasingly senior roles in the company's Group Division, including the last seven years as Executive Vice-President, Group.

Visit www.greatwestlifeco.com//biographiesandphotos.com for biographies and photographs of these management appointments.

Great-West Lifeco
Great-West Lifeco Inc. (TSX:GWO) is a financial services holding company with interests in the life insurance, health insurance, retirement savings, investment management and reinsurance businesses.  The Company has operations in Canada, the United States, Europe and Asia through The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company, Great-West Life & Annuity Insurance Company and Putnam Investments, LLC.  Lifeco and its companies have $582 billion in assets under administration.  Great-West Lifeco is a member of the Power Financial Corporation group of companies.

*assets as at March 31, 2013

SOURCE: Great-West Lifeco Inc.

For further information:

Marlene Klassen, APR
Assistant Vice-President, Communication Services
204.946.7705