Great-West Lifeco Inc. Announces Leadership Transition with David Harney Succeeding Paul Mahon
- Great-West Lifeco Inc. initiates leadership transition with Paul Mahon retiring as CEO on July 1, 2025.
- David Harney, with 35 years at Great-West, is appointed as Mahon's successor to ensure continuity and growth.
- The company manages over $3 trillion in assets and serves 40 million customers across North America and Europe.
Great-West Lifeco Inc. Announces Leadership Transition Amid Strategic Growth
Great-West Lifeco Inc. embarks on a significant leadership transition as it prepares for the retirement of Paul Mahon, its long-serving President and CEO, effective July 1, 2025. Mahon, who has dedicated 39 years to the company—12 of which he has spent in the top executive role—will continue to provide support as a Senior Advisor until early 2026. His tenure is marked by record performance metrics, a strategic repositioning of the company's portfolio, and an unwavering commitment to the well-being of customers and employees during the challenges posed by the global pandemic. This transition not only signifies a pivotal moment for the company but also reflects its ongoing commitment to stability and growth.
David Harney, appointed as Mahon’s successor, brings over 35 years of experience within Great-West Lifeco, having held various senior roles, including CEO of Irish Life and President and Chief Operating Officer for Europe. Harney's extensive experience equips him with a unique insight into the company’s operations and market dynamics. His leadership has previously resulted in successful integrations of business units and enhanced market presence in key regions. The decision to elevate Harney is indicative of the company's focus on robust succession planning and talent development, ensuring a seamless transition that builds upon Mahon's legacy.
As of December 31, 2024, Great-West Lifeco boasts an impressive management portfolio with total client assets exceeding $3 trillion and serving over 40 million customer relationships across Canada, the U.S., and Europe. The company operates under well-established brands such as Canada Life, Empower, and Irish Life. Jeffrey Orr, Chair of the Board, commends Mahon’s extraordinary contributions to the company and expresses confidence in Harney's capacity to lead the firm’s growth strategy moving forward. Harney himself expresses enthusiasm about guiding Great-West Lifeco into its next chapter, emphasizing a commitment to continue enhancing customer value and operational excellence.
In related developments, Great-West Lifeco's focus on customer well-being remains a cornerstone of its business strategy, especially in light of the increasing demands for personalized financial solutions in a rapidly evolving market. The leadership change is a strategic pivot that aims to not only maintain but also expand the company's influence across its operational territories. The emphasis on continuity and strategic growth positions Great-West Lifeco favorably as it navigates the complexities of an ever-changing financial landscape.