TORONTO, Feb. 3, 2016 /CNW/ - Echelon Financial Holdings Inc. (or "the "Company") (TSX: EFH) today announced that Steve Dobronyi has decided to step down as Chief Executive Officer. He has agreed to remain with the Company until the annual general meeting on May 5, at which time, Serge Lavoie will be appointed Chief Executive Officer.
Mr. Lavoie is currently President and Chief Executive Officer of Echelon Insurance. Prior to that, he was a Director of Echelon Insurance from May, 2014 to November, 2015. Until 2012, he was Chief Executive Officer of Jevco Insurance Company.
Rob Purves, Chairman of the Board, thanked Mr. Dobronyi for his strong contribution. "Steve successfully led the Company with creativity and energy through several challenging business cycles. Over his six year tenure, he steadily grew the Canadian operations and restored profitability to target levels. He divested the unprofitable US operations and other non-core businesses and led the acquisitions of ICPEI and CUISA MGA", said Mr. Purves.
Mr. Purves continued, "Serge brings deep and proven experience in the Canadian property and casualty insurance industry to Echelon's leadership. We look forward to working with him to utilize Echelon's business platform and accelerate our growth plans in Canada."
"I'm excited to lead the Company on a path of growth and profitability in the ensuing years. The Company has many fine employees whom I have come to know and I'm certain that together we will ensure the future success of Echelon", said Mr. Lavoie.
About Echelon Insurance
Founded in 1998, the Company operates in the property and casualty insurance industry in Canada and Europe, primarily focused on providing non-standard automobile insurance and other niche and specialty insurance solutions. The Company operates and distributes insurance products through Echelon Insurance, The Insurance Company of Prince Edward Island and Qudos Insurance. It trades on the Toronto Stock Exchange under the symbol EFH. For more information, visit echeloninsurance.ca.
SOURCE Echelon Financial Holdings Inc.
For further information: Kathy Shulman, Manager, Investor Relations, 905-214-7880, firstname.lastname@example.org, echeloninsurance.ca