Qualified Financial Services (QFS) announced this month that its CEO, Kevin Cott, will be moving forward with the company’s formal transition plan that will see Cott retire from his CEO role at the end of 2020.
“After 37 years in the business and 23 years since we started QFS, I am transitioning into a chairman’s role,” Cott told the Insurance Journal in an interview Wednesday. “I will continue to provide leadership and guidance to the organization with the plan to fully retire by the end of 2020.”
He says completing the company’s formal transition plan over the next 15 months is his number one priority for the time being. Following that, in addition to his role as chairman of the company, Cott will continue to work with about 15 of the organization’s key advisors. He is also currently working on a philanthropic program outside of the company.
As part of the plan, Cott says QFS’ president, Fiona Cuddy has already taken over all but a few of the company’s day-to-day executive suite duties. The company has also appointed Scott Morrow as vice president of business development. “Between the two of them, with Fiona’s leadership in all aspects and Scott’s leadership in sales, along with the rest of our executive team and my three children, we are very well covered from a leadership standpoint,” Cott says. “That’s what’s really given me the confidence to be able to make this decision now.”
Cott officially announced his plans at the company’s recent professional development day in Toronto.
“I think some people in the industry have thought that I’ve retired now. I have not,” he adds. He also says the company is committed to being an independent MGA. “We are not selling. We will continue to be a strong voice in the marketplace.”