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CPPIB CEO Machin steps down after getting vaccinated in UAE
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Mark Machin resigns as CEO of CPP Investments
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By Noor Zainab Hussain and Maiya Keidan
Feb 26 (Reuters) - The head of Canada Pension Plan Investment Board (CPPIB), Mark Machin, has resigned after traveling to the United Arab Emirates to be vaccinated against COVID-19, flouting Canadian government s travel advice and drawing criticism.
CPPIB, the country s largest pension fund, on Friday named John Graham as chief executive officer, who is currently senior managing director and global head of credit investments. While the CPPIB is an independent organization, we are very disappointed by this troubling situation and we support the swift action taken by the Board of Directors, said Kat Cuplinskas, press secretary for Canada s Ministry of Finance.
CPPIB Chief Mark Machin Exits Amid Vaccine Uproar
The CEO of Canada’s largest pension fund traveled to the Middle East to get a shot. The plan’s credit head, John Graham, replaces him.
Mark Machin
The head the Canada Pension Plan Investment Board (CPPIB) has stepped down in the wake of his journey to the Middle East to receive a vaccination for COVID-19.
CEO Mark Machin, 54, traveled to the United Arab Emirates (UAE) to get the shot earlier this month, as Canada’s rollout of its vaccination program has lagged. Canada’s largest pension fund (US$379 billion) named John Graham, the fund’s head of credit investments, as Machin’s successor.
4 Min Read
(Reuters) - The head of Canada Pension Plan Investment Board (CPPIB), Mark Machin, has resigned after his trip to the United Arab Emirates for vaccination against COVID-19 flouted Canadian government’s travel advice and drew criticism.
FILE PHOTO: Mark Machin, President and CEO, Canada Pension Plan Investment Board, speaks at the 2019 Milken Institute Global Conference in Beverly Hills, California, U.S., April 29, 2019. REUTERS/Lucy Nicholson
CPPIB on Friday named John Graham, currently senior managing director and global head of credit investments, as the new chief executive officer of the country’s largest pension fund.
Machin, 54, becomes the second senior Canadian corporate executive to resign after attempting to jump vaccine queue, underscoring the frustration among some about the country’s slow vaccine roll out.
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