Government of Canada ensures continuity of leadership during period of transformation, announces extension of term for CMHC President

OTTAWA, May 1, 2018 /CNW/ - Newly appointed Chair of CMHC's Board of Directors, Derek Ballantyne, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), announced today that Evan Siddall will continue to serve as CMHC's CEO and President for an additional two years.  Mr. Siddall will continue in his role until December 2020.

Since being appointed in 2014, Mr. Siddall and his executive team have led transformative change at CMHC – helping it regain ground as a high-performing, innovative and ambitious organization with a vision of being at the heart of a world-leading housing system. In partnership with communities across the country, CMHC has been instrumental to the design of Canada's first-ever National Housing Strategy, a Government of Canada priority that will benefit hundreds of thousands of Canadian families. The Strategy is a 10-year, $40-billion plan that will strengthen the middle class, grow the economy and give more Canadians across the country a place to call home.

Prior to joining CMHC, Mr. Siddall served at the Bank of Canada where he spearheaded the Bank's efforts in establishing financial infrastructure to guard against systemic risks. He also worked at some of the world's largest investment banking firms in Canada and the United States.

CMHC helps Canadians meet their housing needs. As Canada's authority on housing, it contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of its operations.

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Quotes:

"CMHC is playing a key role in bringing to life the goverCMHnment's renewed commitment to housing through the National Housing Strategy. I am pleased that Mr. Siddall will remain President thereby ensuring continuity of leadership at this critical time in the organization's history."

Minister Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for CMHC

"I'm happy to see that Mr. Siddall is renewed in his role of President of CMHC at such an important moment. To have a President coming from the banking sector and a Chair of the Board of Directors coming from the social housing domain gives CMHC all the tools they need to deliver on the National Housing Strategy."

Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development (Housing and Urban Affairs).

"We welcome this announcement and look forward to continuing our work with Mr. Siddall to build on CMHC's rich legacy. His dynamic leadership and proven experience will be crucial as we implement and deliver the National Housing Strategy. I'm new to CMHC, so it is important to have Mr. Siddall's as part of the team while we are putting in place the first steps of the National Housing Strategy."

Derek Ballantyne
Chair, CMHC Board of Directors

"I have often said that this is the best job I've ever had – the most exciting, most challenging and most fulfilling. I am both thrilled and honoured to continue working with CMHC's dedicated and talented staff across the country as we strive to make a difference in the lives of Canadians."

Evan Siddall
President and CEO, CMHC

Quick Facts:

• For more information on the National Housing Strategy visit: www.placetocallhome.ca
• Link to full Bio: https://www.cmhc-schl.gc.ca/en/corp/about/cogo/cogo_039.cfm

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SOURCE Canada Mortgage and Housing Corporation