Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 03, 2013 14:10 ET

CMHC Announces Interim President and CEO

OTTAWA, ONTARIO--(Marketwired - June 3, 2013) - The Board of Directors of Canada Mortgage and Housing Corporation (CMHC), today announced the designation of Douglas A. Stewart as Interim President and CEO effective June 17, 2013.

The designation of an Interim President ensures the continuity of CMHC's operations while the Government undertakes its search for the next President and Chief Executive Officer.

"Mr. Stewart's extensive knowledge of CMHC and housing make him the ideal candidate to ensure the continued leadership of the Corporation during this transition period," said Robert P. Kelly, Chairperson of CMHC's Board of Directors. "With over 30 years of experience at CMHC, his knowledge of its operations and clients will ensure that CMHC continues to meet its corporate objectives."

Mr. Stewart has held key senior executive positions with CMHC, including his appointment as Vice-President, Regional Operations and Assisted Housing in 2012 after serving as Vice-President Policy and Planning since February 2004.

He holds a Bachelor of Arts degree in Economics from Cornell University and a Master of Arts in Urban and Regional Planning from the University of British Columbia.

Mr. Stewart's designation follows the departure of Karen Kinsley, whose term ends on June 16, 2013. On behalf of all CMHC employees, the Board of Directors would like to thank Ms. Kinsley for her leadership and contributions to CMHC and Canadians during her 25 year career at CMHC, 10 of which she served as President and CEO.

The process to select the next permanent President and CEO, following the Governor in Council appointment process and procedures, is underway.

Canada Mortgage and Housing Corporation (CMHC) has been Canada's national housing agency for more than 65 years. Together with other housing stakeholders, we help ensure that the Canadian housing system remains one of the best in the world. We are committed to helping Canadians access a wide choice of quality, environmentally sustainable and affordable housing solutions that will continue to create vibrant and healthy communities and cities across the country.

Follow CMHC on Twitter @CMHC_ca.

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