Eight months after Romy Bowers announced that she would be stepping down from President and Chief Executive Officer of the Canada Mortgage and Housing Corporation (CMHC), the government agency has appointed Coleen Volk to the role.

Bowers officially departed from the role in December 2023 after nine years with CMHC, and now Volk will step into the role, effective immediately.

According to a press release put out by the Government of Canada on Friday, Volk comes to CMHC “with decades of executive experience in the private sector and the federal and provincial public services,” and her appointment “marks a return to CMHC where she spent nine years in various leadership roles.”

Volk’s LinkedIn reveals quite the repertoire, including Deputy Minister and Associate Deputy Minister roles with the governments of Canada and Alberta. Predating that, Volk served as Senior Treasury Manager with CIBC and as an analyst with TD.

“I am thrilled to be returning to CMHC as the newly appointed President and CEO, and look forward to leading the organization in supporting Canada’s housing system with the dedicated group of people at CMHC,” Volk said in the government's press release. “Together, we will work on today's challenges to build the housing system of the future.”

In addition to the appointment of Volk, Friday’s announcement also unveiled the new Chair of the Board of Directors for CMHC, Don Iveson, as well as six new directors for the agency: Laurie LeBlanc, Ray Williams, Darlene Hyde, Heather Tremain, and Nick Macrae.

The new appointees “bring a breadth of experience from across the housing sector including with private, public, and not-for-profit organisations and associations, [and] regulatory agencies, as well as real estate and financial institutions, and credit unions,” the press release said. “Collectively, these new directors, along with the new Chair and the new President and CEO, will position CMHC to better address current and future challenges.”

In particular, Iveson comes to the role with “extensive experience as a strategic advisor on climate, housing, and civic innovation issues,” and served as Edmonton’s 35th Mayor for eight years ending in 2021. More recently, Iveson served as the Co-Chair for the Task Force for Housing and Climate.

“I am honoured to be joining the CMHC Board of Directors as Board Chair and to be working with Coleen Volk, the new President and CEO,” Iveson said. “Along with my new Board colleagues, I hope to bring my experience and passion for housing to the goal of ensuring everyone living in Canada has a place to call home.”