Portage Mutual Insurance has announced that the mutual company’s president and CEO, John Mitchell plans to retire on December 31, 2022. The company’s board of directors has appointed Wayne Wyborn as the new president and CEO, effective January 1, 2023.
Executive vice president and chief operating officer since 2010, Wyborn joined Portage Mutual in 1986. Working with Mitchell “side-by-side” in recent years, the company says Wyborn has been responsible for the company’s underwriting, distribution, business development and revenue growth. “Wayne’s skills, experience and leadership qualities align well with the future of the company,” says the company’s board of directors’ chair, Brent Gilbert.
Going forward, Wyborn is expected to bring the company along in a five-year plan to build an agile and innovative culture.
Mitchell, leader of the company for 39 years, serving as president and CEO since 2010, is credited with growing the firm’s market share, increasing profitability and successfully completing a legacy IT replacement project. The board’s chair also says Mitchell has worked with the board to improve its corporate governance practices and procedures. “He has positioned the company well for future growth and ongoing technological advancements,” they state.
Portage Mutual Insurance is a policyholder-owned property and casualty (P&C) insurance company offering home, business, farm and automobile insurance products through 600 brokerages across Canada. In 2021 the company had gross written premiums of $263-million.
