DesPrez is leaving Manulife
John DesPrez III, the former John Hancock chief who came in second in a two-man race for the top job at the insurer's Canadian parent, is leaving the company.
DesPrez lost the competition to succeed former Manulife Financial Corp. Dominic D'Alessandro in 2008. The job went to Donald Guloien, who had been Manulife's chief investment officer, and DesPrez was named to the newly created post of chief operating officer at the time.
The departure of DesPrez, a 19-year veteran of Manulife John Hancock, was disclosed in a paragraph on the fifth page of Manulife's quarterly earnings report this morning. The company said it was eliminating the chief operating officer's position.
"The company appreciates the very useful role he played in assisting the chief executive officer in his first year as CEO," Manulife said.
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