TORONTO, May 14, 2013 /CNW/ - Effective January 1, 2014, Ron Mock,
currently Senior Vice-President, Fixed Income and Alternative
Investments, will succeed Jim Leech as President and Chief Executive
Officer of Ontario Teachers' Pension Plan (Teachers').
Mr. Leech is retiring December 31, 2013 after more than 12 years at
Teachers', the last six as Chief Executive Officer. Teachers' Chair,
Eileen Mercier, made the announcement today, noting that Mr. Mock's
appointment continues the organization's tradition of cultivating
talent internally and promoting from within.
"Ron brings the ideal combination of experience, knowledge and
leadership acumen to the CEO role at this high performance
organization," said Ms. Mercier. "We have every confidence that he
will lead the organization to new levels of success as CEO, as Jim has
and Claude Lamoureux did before him."
A selection committee of the board has been engaged in preparations for
the CEO succession since 2011, in anticipation of Mr. Leech's
retirement. "We undertook the same approach we would expect of our
portfolio companies: a comprehensive succession process with
consideration to both external and internal candidates to ensure the
best possible successor to Jim, for the best possible impact on the
organization," said Ms. Mercier. "Jim and his executive team have a
number of important goals they are focused on achieving before he
retires later this year, and he remains firmly in charge until then,"
Ron Mock joined Teachers' in 2001 as Director of Alternative
Investments. He was promoted to Vice-President later that year, a
position he held until 2008, when he was promoted to Senior
Vice-President, assuming responsibility for all fixed income assets and
strategy as well as alternative investments and hedge funds. He also
is a board member of wholly-owned Cadillac Fairview, which manages
Teachers' $21 billion commercial and retail real estate portfolio.
Mr. Mock holds a B.A.Sc. in Electrical Engineering from the University
of Toronto and an MBA from York University.
"I have the luxury of inheriting the leadership of a thriving and
successful organization," said Mr. Mock. "I will be working from a
solid foundation and I can only thank the board for their confidence
and Jim for his generosity in sharing his knowledge, and most of all
for his vision and leadership during his term as Teachers' CEO. I will
be working closely with him until his retirement to ensure a smooth
transition. While this appointment may be somewhat daunting, the
prospect of leading this exceptional organization is the most
invigorating challenge I have ever faced and I look forward to doing my
best for everyone from members to employees, plan sponsors to
"I could not be more pleased with the board's decision to appoint Ron,"
said Mr. Leech. "He has been an outstanding leader at Teachers' and
members of the board, our executive team and I admire his knowledge and
good judgment. Ron and I share the privilege of joining Teachers' at
the same time. His track record here is excellent, with the Fixed
Income portfolio totaling $60.0 billion at the end of 2012.
Importantly," stressed Mr. Leech, "Ron has a reputation for
collaboration and team building, balancing current needs with a view to
future possibilities. Plan members, sponsors, our employees and our
investment partners all will benefit from his leadership of Teachers'.
"Over the past six years, I have had the honour and privilege of leading
this one-of-a-kind organization," Mr. Leech noted. "We have always
been focused on doing the right things for our members, and that is
reflected in our culture, which I know will continue under Ron's
Mr. Mock's successor as Senior Vice-President has not yet been named.
Mr. Leech joined Teachers' in 2001 with a mandate to expand Teachers'
private investment activities globally. Under his leadership, Teachers'
Private Capital became one of the world's largest and most successful
private investors. He took on the CEO role just as the investment world
was about to start reeling from the financial crisis. He is credited
with keeping a steady hand on the wheel as Teachers' coped with the
tumult, and with leading the team that has recouped all losses and
raised net assets to $130 billion. He has earned international
recognition for his leadership in advocating for an evolved defined
benefit plan model that reflects the demographic and economic reality
of the day. His full professional bio is available here.
With $129.5 billion in net assets as of December 31, 2012, the Ontario
Teachers' Pension Plan is the largest single-profession pension plan in
Canada. An independent organization, it invests the pension fund's
assets and administers the pensions of 303,000 active and retired
teachers in Ontario. For more information, including our 2012 and
previous annual reports, visit www.otpp.com. Follow us @OtppInfo
Image with caption: "Ron Mock (L) to succeed Jim Leech as President and Chief Executive Officer of Ontario Teachers' Pension Plan on Jan. 1, 2014. (CNW Group/Ontario Teachers' Pension Plan)". Image available at: http://photos.newswire.ca/images/download/20130514_C6763_PHOTO_EN_26691.jpg
SOURCE: Ontario Teachers' Pension Plan
For further information: