Ms. Gail Cook-Bennett reports
MANULIFE ANNOUNCES CHAIR TRANSITION AND SUCCESSION
On behalf of the board of directors, Manulife Financial Corp. and The Manufacturers Life Insurance Company
have appointed Richard DeWolfe as vice-chair, effective Dec. 1, 2012.
Gail Cook-Bennett, chair of Manulife Financial, will retire from the board in May, 2013, having reached
the board retirement age. As vice-chair, Mr. DeWolfe will assist the
chair in managing a smooth transition of the affairs of the board until
the 2013 annual meeting in May, when he will become chair.
"Over the past few months, the Manulife board participated in a careful
process to identify the next chair," said Ms. Cook-Bennett. "The board
is fortunate to have someone of Dick DeWolfe's experience, ability and
knowledge of the company take on the role of chair," she added.
"We have benefited enormously from Dick DeWolfe's keen interest and wise
counsel, as a director at large and as chair of the audit committee,"
said Donald Guloien. "I am looking forward to working even more
closely with Dick over the next few years," he added.
Mr. DeWolfe, who joined the board in 2004, is currently managing partner
of DeWolfe & Company LLC, a real estate management and investment
consulting firm. He was formerly chairman and chief executive officer of The DeWolfe
Companies Inc., the largest home-ownership organization in New
England. Mr. DeWolfe is a director of Avantair Inc. and holds an
executive master professional director certification from the American
College of Corporate Directors. Mr. DeWolfe received a BAS in marketing
and finance from Boston University.