Manulife announces additions to its Board of Directors

Rhea-AI Summary

Manulife appoints Mike Durland and Don Kanak to its Board of Directors, with Anna Manning and John Wong nominated for election. The new directors bring extensive experience in financial services, insurance, and global markets, enhancing the Board's oversight capabilities.

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TORONTO, March 5, 2024 /PRNewswire/ - Manulife announced today that Mike Durland and Don Kanak have been appointed to its Board of Directors, effective March 5, 2024, and Anna Manning and John Wong have been nominated for election as directors at the company's May 9, 2024 annual meeting of shareholders.

Mr. Durland is a former senior executive at The Bank of Nova Scotia, holding a number of senior roles in their capital markets division, including Group Head and CEO, Global Banking and Markets. He is currently the Chief Executive Officer of Melancthon Capital Corporation, a private company primarily focused on the provision of capital and advisory services to emerging Canadian companies. He holds a Bachelor of Commerce from Saint Mary's University and a Ph.D. in Management from Queen's University.

Mr. Kanak is a former senior executive with deep insurance experience in Asia. Most recently, he held several senior roles with Prudential Holdings Ltd. (part of Prudential plc.). He ultimately served as Chairman, Insurance Growth Markets and Chairman, Prudence Foundation and, prior to that, Chairman, Eastspring Investments and Chairman of Prudential Corporation Asia. He served in senior executive positions at American International Group (AIG) for over 14 years before joining Prudential. He holds a Bachelor of Arts from the University of North Carolina, a JD from Harvard Law School, and a MLitt from Oxford University in management studies.

Ms. Manning is the former President and Chief Executive Officer of Reinsurance Group of America, Incorporated (RGA), a global reinsurance company focusing on life and health solutions. Prior to joining RGA, she spent 19 years with the Toronto office of Towers Perrin's Tillinghast insurance consulting service, providing consulting services to the insurance industry on mergers and acquisitions, value-added performance measurement, product development, and financial reporting. She is a Fellow of the Society of Actuaries and the Canadian Institute of Actuaries and holds a B.Sc. in Actuarial Science from the University of Toronto.

Mr. Wong is a former Senior Partner and the former Chairman of Greater China for Boston Consulting Group, where he currently serves as a Senior Advisor. He is a trusted consultant with over 30 years of experience serving global clients in the Asian healthcare market and a deep expertise in building businesses in biopharmaceuticals, medical technology, and consumer health. Mr. Wong holds an MBA from Harvard University, an M.Sc. in Chemical Engineering from the Massachusetts Institute of Technology, and B.Sc. in Chemical Engineering from Imperial College London.

"Mike, Don, Anna and John bring skills and experience critical to supporting the Board of Directors' effective oversight of Manulife given its growth ambitions and strategic priorities," said Don Lindsay, Chair of the Board, Manulife. "They are accomplished executives who bring a wealth of experience, including in the financial services and insurance industries, as well as extensive global and Asia market knowledge. We are fortunate to have them join the Board."

Mr. Durland joins the Board's Audit Committee and Corporate Governance and Nominating Committee and Mr. Kanak joins the Management Resources and Compensation Committee and Risk Committee. Ms. Manning will join the Management Resources and Compensation Committee and the Risk Committee and Mr. Wong will join the Audit Committee and Corporate Governance and Nominating Committee following successful election at the annual meeting of shareholders.

About Manulife

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our Global Wealth and Asset Management segment, we serve individuals, institutions, and retirement plan members worldwide. At the end of 2023, we had more than 38,000 employees, over 98,000 agents, and thousands of distribution partners, serving over 35 million customers. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges, and under '945' in Hong Kong. 

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SOURCE Manulife Financial Corporation

FAQ

Who are the newly appointed members to Manulife's Board of Directors?

Mike Durland and Don Kanak.

When were Mike Durland and Don Kanak appointed to the Board of Directors?

March 5, 2024.

Who are the nominated directors for election at Manulife's annual meeting of shareholders?

Anna Manning and John Wong.

What are the backgrounds of Mike Durland and Don Kanak?

Mike Durland is a former senior executive at The Bank of Nova Scotia, while Don Kanak has deep insurance experience in Asia.

What committees will the new directors join on the Board?

Mike Durland will join the Audit Committee and Corporate Governance and Nominating Committee, Don Kanak will join the Management Resources and Compensation Committee and Risk Committee, Anna Manning will join the Management Resources and Compensation Committee and the Risk Committee, and John Wong will join the Audit Committee and Corporate Governance and Nominating Committee.