Manulife expands board with four new appointments

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Manulife expands board with four new appointments
Credit: © Reuters.

TORONTO - Manulife Financial (NYSE: MFC ) Corporation, a prominent international financial services provider, announced the appointment of two new members to its Board of Directors and the nomination of two others for election at the upcoming annual shareholders meeting. Mike Durland and Don Kanak have officially joined the board as of today, while Anna Manning and John Wong are slated for election on May 9, 2024.

Durland brings a wealth of experience from the capital markets division of The Bank of Nova Scotia, where he served as Group Head and CEO. Currently, he is the CEO of Melancthon Capital Corporation. Kanak's background includes significant insurance experience in Asia, having held senior roles at Prudential (LON: PRU ) Holdings Ltd. and American International Group (NYSE: AIG ).

The two nominees awaiting election, Manning and Wong, also have impressive resumes. Manning is the former CEO of Reinsurance Group (NYSE: RGA ) of America and has extensive experience in insurance consulting. Wong, a former Senior Partner and Chairman of Greater China for Boston Consulting Group, continues to serve as a Senior Advisor with deep expertise in Asia's healthcare market.

The new board members are expected to contribute significantly to Manulife's strategic priorities and growth ambitions, especially given their financial services and insurance industry experience, as well as their global and Asia market knowledge.

Durland and Kanak are already assuming roles on the company's Audit, Corporate Governance and Nominating, Management Resources and Compensation, and Risk Committees. Upon successful election, Manning and Wong will take their places on similar committees.

Manulife emphasizes the importance of these appointments in supporting the effective oversight of the company. The firm operates globally, with a significant presence in Canada, Asia, Europe, and the United States (primarily under the John Hancock brand), offering financial advice, insurance, and wealth and asset management services.

As of the end of 2023, Manulife boasts over 38,000 employees and serves more than 35 million customers.

This strategic bolstering of the board comes as part of Manulife's commitment to enhance its governance and oversight capabilities, aligning with its growth and strategic objectives. The information is based on a press release statement from Manulife Financial Corporation .

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