May 8, 2021


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Head of Canada’s largest pension fund resigns after Covid vaccination trip

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Mark Machin, the head of Canada’s largest pension fund, has resigned after a public reaction to his decision to travel to the Middle East to receive the Covid-19 vaccine.

In a statement, the Canada Pension Plan Investment Board said Machin had traveled to the United Arab Emirates in his personal capacity and “arranged to be vaccinated against Covid-19.”

The agency said Machin tendered his resignation after discussions with the board on Thursday evening.

Machin, a former Goldman Sachs investment banker in his mid-50s who has headed the Office since 2016, did not immediately respond to an email request for comment.

The disclosure of his trip, first reported by the Wall Street Journal, sparked outrage in Canada, where many elderly and vulnerable people are still awaiting the vaccine.

The Board, which manages approximately C $ 450 billion ($ 356 billion) in assets, paid tribute to Machin’s leadership and announced another senior executive, John Graham, as his successor.

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