Three CAAT Pension Plan leaders exit abruptly, Globe and Mail says

Investing.com -- Three senior leaders at the CAAT Pension Plan abruptly resigned on Monday, leaving the $23.3-billion fund to navigate a significant leadership transition. Chief investment officer Asif Haque, chief financial officer Mike Dawson, and chief pension officer Evan Howard departed without a specific explanation, according to reporting from the Globe and Mail.

Chief executive officer Derek Dobson addressed the exits in a Tuesday memo, framing the move as a strategic shift for the organization. He noted the changes were necessary for “the right alignment of our executive team” while adding that the three men “are leaving the organization on good terms.”

Despite the high-level turnover, a spokesperson for the plan emphasized that the departures do not reflect underlying fiscal instability.

The departing executives held decades of collective experience, including Mr. Haque, who had been with CAAT for nearly 16 years. To fill the void, the plan promoted 17-year veteran Kevin Fahey to the role of chief investment officer and appointed former trustee Scott Blakey as an interim executive vice-president.

Founded in 1967 for Ontario’s community colleges, CAAT has expanded rapidly to serve over 750 employers and 120,000 members.

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