Element Announces Executive Board Appointments, Retirements

Element Financial announced it appointed independent director William Lovatt as chairman of its board of directors, effective as of April 1, 2015. This appointment aligns Element with optimal corporate governance standards where the roles of chairman and chief executive officer are separated. Element’s CEO, Steven K. Hudson, will remain an executive member on the board.

“Having served as Executive Vice President and Chief Financial Officer of one of Canada’s largest financial services companies, Bill Lovatt brings four decades of leadership experience in the financial services industry to Element’s board and shareholders,” said Steven K. Hudson, Element’s CEO.

In addition, the company announced that Richard Venn has been appointed as vice-chairman of the board of directors as of April 1, 2015. Lovatt and Venn were first appointed to Element’s board in December of 2014.

The company also announced that The Hon. Brian Tobin, P.C., O.C. has been appointed to the company’s board of directors to sit as an independent director effective April 1, 2015. Tobin is currently a vice chairman of BMO Capital Markets. He was named as an Officer of the Order of Canada in 2013 for his contribution to Canadian public policy.

Concurrent with these appointments, Steven Small and Michael D. Harris have announced their retirement from the company’s board of directors, having each served the company as directors for the past five years. Harris will be retiring as of April 1, 2015 and Small will be retiring as of April 30, 2015.

“On behalf of Element’s employees and shareholders, I want to thank Steven and Michael as founding directors for their exceptional long-standing service to the Company through a period of remarkable growth and development,” said Hudson.

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