A man with two decades of service under his belt on the Economical’s board of directors today announced he is stepping down.
Charles M. W. Ormston just now announced he is retiring from the board, an appointment he had held since 1995.
“On behalf of Economical and its board of directors, I want to express our deep appreciation to Charlie for his 20 years of dedicated service,” said Gerry Hooper, chair of the board of directors. “His insights and business acumen helped guide the company's tremendous growth over the past two decades and his leadership of our Human Resources and Compensation Committee was greatly valued. We will miss his counsel but wish him well in his future endeavours.”
Since March 2005, Ormston has been the chair of Economical's Human Resources and Compensation Committee, also serving on the board's special committee on demutualization from 2010 until 2014.
Ormston is a past president of the Kitchener and Waterloo Community Foundation, a director of the Walter Bean Grand River Community Trails Foundation, and a director of the Grand River Conservation Foundation, among others.
In 2012, he was awarded The Queen Elizabeth II Diamond Jubilee Medal for his contributions to his community.
Founded in 1871,
Economical Insurance is one of Canada's leading property and casualty insurers, with $2 billion in annual premium volume and $5.2 billion in assets.
