08:11 AM EDT, 05/01/2025 (MT Newswires) -- Great-West Lifeco ( GWLIF ) on Thursday announced that Paul Mahon will retire as President and Chief Executive of Great-West Lifeco ( GWLIF ) and Canada Life and will be succeeded by David Harney, effective July 1.

Mahon will act as a Senior Advisor until early 2026 to support the transition.

David Harney, who has been with the company for over 35 years, was appointed CEO of its subsidiary Irish Life in 2016. In 2020, he was named President and Chief Operating Officer, Europe for Great-West Lifeco ( GWLIF ), and in 2024 he took on more responsibilities to include oversight of Lifeco's reinsurance business.

"David brings a depth of experience, and a proven ability to execute to his new role," said Chair of Lifeco and Canada Life's Board of Directors Jeffrey Orr. "He has consistently built strong teams that drive performance. Our Board looks forward to working closely with David in his new role as we pursue Lifeco's growth strategy, with a clear focus on creating value, and delivering long-term impact."