Finley Says Canada to Search Widely to Replace CMHC CEO

The Canadian government will conduct a wide search to replace Karen Kinsley, the chief executive officer of Canada Mortgage & Housing Corp. who said in today’s annual report that she’s given her final message.

Replacing Kinsley won’t be an easy task, said Diane Finley, the country’s Human Resources Minister who is responsible for CMHC, speaking to reporters today. Kinsley’s latest term ends June 15, agency spokesman Charles Sauriol said by e-mail.

Robert Kelly, former Bank of New York Mellon Corp. chief executive officer, was named CMHC’s chairman last week in the government’s latest move to bolster oversight of the federal housing agency.

Asked if Kelly might replace Kinsley as CEO, Finley said that chairman is the right position for him.

To contact the reporter on this story: Andrew Mayeda in Ottawa at amayeda@bloomberg.net

To contact the editor responsible for this story: Paul Badertscher at pbadertscher@bloomberg.net

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