Alberta Government Ousts AIMCo CEO and Board in Major Shakeup

The unexpected dismissal aims to address rising costs and underperformance at the $169-billion pension fund manager.

Alberta appointed Ray Gilmour, a senior bureaucrat, as interim CEO following the removal of AIMCo's CEO Evan Siddall and the entire board.
Finance Minister Nate Horner cited increased management fees and staffing costs as triggers for the leadership overhaul.
The move has raised concerns about government interference in the arm's-length organization, with critics viewing it as a takeover.
AIMCo's recent performance showed average returns comparable to other large Canadian pension funds, despite missing some internal benchmarks.
The leadership change comes amid ongoing discussions about Alberta potentially exiting the Canada Pension Plan, with AIMCo as a possible manager.