EDMONTON, April 25, 2014 /PRNewswire/ - 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 succession plan.
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.
SOURCE Alberta Investment Management Corp.
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