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Mark Yakabuski resigns as IBC president and CEO


September 12, 2008   by Canadian Underwriter


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Mark Yakabuski has resigned as president and CEO of Insurance Bureau of Canada (IBC), effective immediately.
“Having established a strong strategic course for the organization as president and CEO, he is leaving after 15 years of service to IBC in order to pursue new challenges,” IBC said in a public statement.
Yakabuski became president and CEO of IBC after his predecessor, Stanley Griffin, retired at the end of 2007.
Randy Bundus, IBC’s vice president, general counsel and corporate secretary, has been appointed acting president.
IBC says the recruitment process to replace IBC’s president is already underway.
Yakabuski joined IBC in 1993, in its newly established policy development division in Toronto. His first responsibility was to develop IBC’s key policy position on bank/insurance competition.
He was named IBC’s director of government relations in 1995 and was sent to Ottawa to open IBC’s first office in the nation’s capital. He became Vice-President in 1998.
In 2001, Yakabuski was named vice-president of Ontario and led the industry’s efforts to secure major reform of the auto insurance sector. He added IBC’s federal government relations program to his responsibilities in 2004.


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