The head the Canada Pension Plan Investment Board (CPPIB) has stepped down in the wake of his journey to the Middle East to receive a vaccination for COVID-19.
CEO Mark Machin, 54, traveled to the United Arab Emirates (UAE) to get the shot earlier this month, as Canada’s rollout of its vaccination program has lagged. Canada’s largest pension fund (US$379 billion) named John Graham, the fund’s head of credit investments, as Machin’s successor.
“After discussions last evening with the board, Mr. Machin tendered his resignation and it has been accepted,” the fund said in a statement. The statement said he had traveled personally to get the vaccine.
Author(s): Larry Light
Publication Date: 26 February 2021
Publication Site: ai-CIO