Pension fund CEO who defied government advice to 'jump Covid-19 shot queue' steps aside

📆 2021/02/27 10:32:00
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The head of Canada Pension Plan Investment Board (CPPIB), Mark Machin, has stepped down after his trip to the United Arab Emirates for vaccination against Covid-19 flouted Canadian government's travel advice and drew criticism.

CPPIB on Friday named John Graham as CEO, who is currently senior MD and global head of credit investments of the country's largest pension fund.

The CPPIB is governed independently from the federal government but it reports to a board of directors selected by Canada's minister of finance. It manages Canada's national pension fund and invests on behalf of about 20 million Canadians Machin also said in the memo that the trip was supposed to be “very private” and that he was disappointed it had become the focus of “expected criticism”, according to the source.

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