FSRA CEO to step down, interim CEO appointed

FSRA extends Chair's term, names new interim chief executive

FSRA CEO to step down, interim CEO appointed

Mark White, CEO of the Financial Services Regulator of Ontario (FSRA), will step down on Tuesday, July 16, to assume his new role as chair of the Ontario Energy Board.

This nomination by Minister of Energy Todd Smith was confirmed by the Standing Committee on Government Agencies on May 30th. Stephen Power, executive vice president of Corporate Services at FSRA, will become interim CEO during the search for a permanent successor.

Power's responsibilities include leading finance, risk management, human resources, information technology, facilities planning, and project management. The term of Joanne De Laurentiis, chair of the FSRA Board of Directors, has been extended by one year to ensure continuity during this transition.

The Board and executive team are dedicated to maintaining FSRA's momentum and uninterrupted operations.

“[Power] will be supported by a strong executive team with a depth of industry and leadership experience as well as a staff with immense strength and expertise,” said De Laurentiis.

She also congratulated White on his new appointment and thanked him for his vision, integrity, and determination in leading FSRA from its launch in 2019 to its current status as a principles-based and outcomes-focused regulator.