Manulife Announces Resignation of Rona Ambrose from Board of Directors

Rhea-AI Summary

Manulife announced the resignation of Rona Ambrose from its Board of Directors effective August 31, 2020. She leaves to pursue a full-time employment opportunity. The Chairman, John Cassaday, recognized her valuable contributions over the past three years. Manulife is a prominent international financial services group based in Toronto, with significant operations in Asia, Canada, and the United States. As of June 30, 2020, the company had over $1.2 trillion in assets under management and administration.

Positive

• Rona Ambrose's experience was beneficial to the Board, potentially easing transition challenges.

Negative

• Ambrose's departure may create a gap in board experience and continuity.

C$ unless otherwise stated 

TSX/NYSE/PSE: MFC     SEHK: 945

TORONTO, Aug. 31, 2020 /PRNewswire/ - Manulife today announced that Rona Ambrose has resigned from its Board of Directors, effective August 31, 2020, to accept a full-time employment position.

"Rona's experience and perspective have been of great value to the Board during her tenure," said John Cassaday, Chairman of the Board, Manulife. "We appreciate her advice and counsel over the past three years and wish her only the best in the future."

Visit Manulife.com for more information on the Company's Board of Directors and Corporate Governance.

About Manulife

Manulife Financial Corporation is a leading international financial services group that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups and institutions. At the end of 2019, we had more than 35,000 employees, over 98,000 agents, and thousands of distribution partners, serving almost 30 million customers. As of June 30, 2020, we had $1.2 trillion (US$0.9 trillion) in assets under management and administration, and in the previous 12 months we made $30.6 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 155 years. 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

What led to Rona Ambrose's resignation from Manulife's Board of Directors?

Rona Ambrose resigned to accept a full-time employment position.

What is the effective date of Rona Ambrose's resignation from Manulife?

Rona Ambrose's resignation was effective August 31, 2020.

How long did Rona Ambrose serve on Manulife's Board of Directors?

Rona Ambrose served on the Board for three years.

What impact might Rona Ambrose's resignation have on Manulife?

Her resignation may impact board continuity and experience.