Trending
A red, white, and black flag with a white background.

Home Capital replaces CEO Martin Reid

Silhouette of a businessman walking down the steps of a building.

Mortgage lender Home Capital has terminated the employment of its president and chief executive Martin K. Reid.

In an announcement, the firm says that the move is immediate and includes the removal of Mr Reid from its board of directors and that of its subsidiaries including Home Trust.

Bonita J. Then has been named interim president and CEO while a search begins to hire a permanent replacement.

“Home Capital requires leadership that can bring to bear a renewed operational discipline, emphasis on risk management and controls, and focus on improving performance,” said Kevin P.D. Smith, Chair of the Board of Directors.

He added “Our goal is to identify the right leader for the Company as soon as possible. In the meantime, we will continue to execute on our strategy under the supervision of Bonita Then, a longtime director who is an experienced executive in her own right, and the rest of our experienced management team.”

Post a Comment

Related Articles

A shifting Toronto real estate market saw suburban office space achieve its first annual net absorption gain since 2019, while downtown vacancy rates climbed despite...

Weston Place, by Citimark, offers a distinctive approach to luxury living in West Vancouver. Situated in a well-established, sought-after neighbourhood, this development is designed to...

Most Trending News

A shifting Toronto real estate market saw suburban office space achieve its first annual net absorption gain since 2019, while downtown vacancy rates climbed despite...

Weston Place, by Citimark, offers a distinctive approach to luxury living in West Vancouver. Situated in a well-established, sought-after neighbourhood, this development is designed to...

The Bank of Canada’s latest decision to lower the overnight lending rate by 25 basis points from 3.25% to 3% is giving homeowners and prospective...