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CEO Of Canada Mortgage And Housing Corp. Steps Down

Romy Bowers, the chief executive officer (CEO) of Canada Mortgage and Housing Corporation (CMHC) has resigned.

Federal Housing Minister Sean Fraser has announced that Romy is leaving the CEO position in December of this year to take a new job with the International Monetary Fund (IMF).

The government in Ottawa said that it will immediately begin looking for a new CEO at the Crown corporation that is focused on Canada’s housing market.

In the meantime, CMHC chief financial officer (CFO) Michel Tremblay will take over CEO responsibilities on an interim basis, said the government in a news release.

At the IMF, Romy will serve as director of the office of risk management. Her departure from CMHC comes amid rising housing prices and a lack of affordability for many Canadians.

The Liberal Government of Prime Minister Justin Trudeau has pledged to make housing affordability a priority.