ICBC announces further restructuring
November 8, 2012
On November 1, 2012, ICBC's Interim President and CEO Mark Blucher announced a downsizing and re-structuring of the company.
Effective November 1, ICBC's executive is comprised of the following individuals:
- Mark Blucher, Interim President & CEO
- Steve Crombie, Vice President, Communications and Marketing
- Sheila Eddin, Vice President, Transformation
- Kellee Irwin, Vice President, Insurance and Driver Licensing (Acting)
- Brian Jarvis, Vice President, Claims (Acting)
- Kathy Parslow, Vice President, Corporate Services
- Andy Platten, Chief Information Officer
- Len Posyniak, Vice President, Human Resources
- Geri Prior, Chief Financial Officer
As a result, five members of the previous executive left the company and two executive positions reporting to the CEO were eliminated. In addition, four non-executive vice president roles were eliminated.
Today, November 8, 2012, further reductions were made including eleven senior management positions. The reductions are a result of a combination of a consolidation of roles and reassignments.
When complete, this re-structuring will involve the elimination of 250 positions overall, the majority of which are among the management ranks. These reductions go beyond the recommendations from the government review of ICBC earlier this year and bring staffing below 2008 levels. The company is making these reductions earlier than planned with a majority of the reductions occurring before the end of November 2012.
The company will be working to finalize further organizational changes and will also align compensation policy with government's new guidelines.
In these economic times, ICBC continues to focus on controlling costs and being financially stable, while keeping rates as low as possible and providing excellent customer service.