EDMONTON, April 25, 2014 /CNW/ - Executive succession for an
organization is an important fiduciary responsibility for both the
Board and the CEO. AIMCo has been focusing on this initiative for a
number of months and today announces a major step in implementing its
AIMCo will now be proceeding with a search process for our next CEO to
ensure a new leader is in place to guide the organization into the next
phase of its evolution. It will undertake a comprehensive and diligent
process, and will take the full time necessary to identify and secure
AIMCo's next CEO. Leo de Bever will continue in the role of CEO while
the search process is undertaken.
"A critical part of the CEO's job is to effectively pass the torch to
the next generation of leadership. I am confident that AIMCo is very
well positioned for continued success", says Leo de Bever, CEO, AIMCo.
"We have a clear vision for AIMCo, including an updated strategic plan
that was reviewed by the Board in January. This plan supports the
mandate set for AIMCo in 2008, with particular emphasis on providing
meaningful client solution support, and delivering superior rates of
return for our clients". Following the transition, it is expected that
Leo de Bever will continue to contribute to AIMCo's success by way of
board representation on a number of portfolio companies and may
participate with or advise AIMCo on other initiatives.
AIMCo has a strong record of performance and since its inception has
provided its clients with 23.2 billion dollars of total return and 3
billion dollars of value added through active investment management.
"AIMCo's Chief Executive Officer, Leo de Bever has been the driving
force behind many of our successes to date" says Charles Baillie,
Chair, AIMCo Board of Directors. "He has created a high performing
investment organization of which Albertans can be proud".
AIMCo will continue to focus on its clients and business priorities and
conduct business as usual. With a clearly defined plan in place for
2014, the organization will continue to build upon the successes
achieved to date.
About Alberta Investment Management Corporation (AIMCo)
AIMCo is one of Canada's largest and most diversified institutional
investment managers. AIMCo was established on January 1, 2008 with a
mandate to provide superior long-term investment results for its
clients. AIMCo operates independently from the Government of Alberta
and invests globally on behalf of 27 pension, endowment and government
funds in the Province of Alberta, including the Alberta Heritage
Savings Trust Fund. For more information about AIMCo, visit www.aimco.alberta.ca.
Image with caption: "Alberta Investment Management Corp. (CNW Group/Alberta Investment Management Corp.)". Image available at: http://photos.newswire.ca/images/download/20140425_C5282_PHOTO_EN_39658.jpg
SOURCE: Alberta Investment Management Corp.
For further information:
Media Contact for this matter:
Chair, AIMCo Board of Directors
(416) 982-8020 (April 28 forward)
Mac Van Wielingen
Chair, AIMCo Human Resources & Compensation Committee
Media Contact for all other matters:
AIMCo Corporate Communication