CAAT Pension Plan leadership rehaul followed a November letter.

In November three senior executives sent a letter raising governance concerns at the $23-billion CAAT Pension Plan, noting issues including a $1.6-million vacation payout to CEO Derek Dobson and a disclosed workplace relationship. The board has since placed Mr. Dobson on administrative leave, replaced its chair and vice-chair, and an outside governance review and a regulator’s examination are underway.

Three senior executives sent a letter in November raising governance concerns at the $23-billion CAAT Pension Plan. The letter flagged issues that included approval of a large vacation payout to CEO Derek Dobson and a disclosed personal relationship involving a staff member. The dispute led to departures in the senior executive team, and the board has placed Mr. Dobson on administrative leave while appointing Kevin Fahey as acting CEO. Key facts: - A November letter from three top executives reported governance shortcomings and asked trustees to investigate. - The letter cited the approval of a $1.6-million vacation payout to the CEO and concerns about a workplace relationship. - Several senior executives left in January and the board changed its leadership, placing Derek Dobson on administrative leave and naming Kevin Fahey acting CEO. - An outside governance review is under way and the Financial Services Regulatory Authority of Ontario has begun a formal examination. Summary: The board has moved to change CAAT’s leadership and said the steps aim to restore stakeholder trust. A governance review by an outside expert is expected to conclude later this month, and the regulator’s formal examination of the plan is ongoing.