Changes in leadership at Canada Mortgage and Housing Corporation

Ottawa, Ontario, October 27, 2023 — The Honourable Sean Fraser, Minister of Housing, Infrastructure, and Communities announced an upcoming selection process for a new President and Chief Executive Officer (CEO) of Canada Mortgage and Housing Corporation (CMHC).

The current President and CEO, Romy Bowers, has announced her departure from the role effective December 2023 to pursue a role as Director of the Office of Risk Management at the International Monetary Fund.

At the request of the CMHC Board of Directors, Mr. Michel Tremblay, CMHC’s Chief Financial Officer and Senior Vice-President of Corporate Services, will assume responsibility for the management of CMHC until a new President is appointed by the Governor in Council. Mr. Tremblay’s extensive experience from nearly a decade of dedicated public service in various senior leadership positions at CMHC makes him well-positioned to take on the role during this interim period.

The Government of Canada will soon launch an open, transparent, and merit-based selection process to identify a new President and CEO. This will be in addition to the active selection processes currently underway for various CMHC Board of Director positions. Ongoing recruitment will ensure that CMHC is ready to meet the challenges ahead in executing on its important mandate to improve access to affordable, safe, and inclusive housing options for Canadians.

About Canada Mortgage and Housing Corporation

CMHC contributes to the stability of the housing market and the financial system, supports Canadians in need, and provides unbiased research and advice to all levels of government, to Canadian consumers and the Canadian housing sector. CMHC aims to ensure that everyone in Canada can afford housing that meets their needs. As a Crown Corporation, CMHC is accountable to Parliament through the Minister of Housing, Infrastructure and Communities.