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Siddall to step down as head of CMHC at year end, not seeking term extension

Siddall to step down as head of CMHC at year end, not seeking term extension
Business
OTTAWA - Canada Mortgage and Housing Corporation says president and CEO Evan Siddall will step down from his position at the end of the year as scheduled and not seek another extension of his term.

The federal housing agency says a selection process for a new president and CEO will start in the coming months.

Siddall was appointed to the five-year post in 2014 by then prime minister Stephen Harper. He agreed in 2018 to an extension of his post, which is set to end December 31.

During his tenure, he focused CMHC on the goal of providing everyone a home they can afford as a essential underpinning of society.

He has been vocally critical of policies supported by the real estate industry and others, such as government-supported mortgage insurance and capital gains exemptions on principal residences, which he says worsen affordability.

Siddall has also been critical of zoning by-laws, development fees, lengthy approvals and other policies that restrict supply.
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