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MCAN FINANCIAL GROUP ANNOUNCES RETIREMENT OF KAREN WEAVER, PRESIDENT AND CEO
MCAN FINANCIAL GROUP ANNOUNCES RETIREMENT OF KAREN WEAVER, PRESIDENT AND CEO Canada New...
About this update from Mcan Mortgage Corporation
[{"type":"text","content":"\n \n \n \n MCAN FINANCIAL GROUP ANNOUNCES RETIREMENT OF KAREN WEAVER, PRESIDENT AND CEO\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 10, 2023\n \n \n /CNW/ - MCAN Mortgage Corporation d/b/a MCAN Financial Group (\"MCAN\", the \"Company\" or \"we\") (TSX: MKP) announced today that following her 12 years of service on our Board of Directors and her successful  tenure since appointment as President and CEO in\n \n October 2018\n \n (initially as Interim),\n \n Karen Weaver\n \n will  be retiring effective\n \n March 2024\n \n . Karen will continue leading MCAN to ensure an orderly transition to a new President and CEO.\n \n \n \n \n \n \n \n \n \n The Board of Directors has retained Caldwell Partners International to conduct a comprehensive search for Karen's successor.\n \n \n With an experienced and committed leadership team, focused portfolio, dedication to customer service and a strong balance sheet, MCAN is poised to continue strategic and profitable growth, improve market position and continue investing in communities and homes for Canadians.\n \n \n \n MCAN is a public company listed on the Toronto Stock Exchange under the symbol MKP and is a reporting issuer in all provinces and territories in\n \n Canada\n \n . MCAN also qualifies as a mortgage investment\n \n \n corporation (\"MIC\") under the Income Tax Act (\n \n Canada\n \n ) (the \"Tax Act\").\n \n \n \n \n The Company's primary objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages, including residential, residential construction, non-residential construction and commercial loans, as well as other types of securities, loans and real estate investments. MCAN employs leverage by\n \n \n issuing term deposits that are eligible for Canada Deposit Insurance Corporation deposit insurance that are sourced through a network of independent financial agents. We manage our capital and asset balances based on the regulations and limits of both the Tax Act and the O...