The head of Canada Pension Plan Investment Board (CPPIB), Mark Machin, has stepped down after his trip to the United Arab Emirates for vaccination against COVID-19 flouted Canadian government’s travel advice and drew criticism. He had a 20-year-long career at Goldman Sachs Group Inc prior to joining the pension fund. "The federal government has been clear with Canadians that now is not the time to travel abroad," Katherine Cuplinskas said in an emailed statement. Machin did not respond to a Reuters request for comment. View more The official description of events leading to the sudden resignation last Friday of Mark Machin, the CEO of the Canada Pension Plan Investment … CPP Investments, which had $475.7 billion in assets under management as of Dec. 31, invests money on behalf of retired and active employees covered by the Canada Pension Plan. amid slow Canadian vaccine rollout and pandemic travel advisory Mark Machin has remained in the United Arab Emirates and is … Prior to joining the pension fund manager, he spent 20 years at investment bank Goldman Sachs. Last Month, Great Canadian Gaming Corp CEO Rod Baker resigned after he and his wife were charged with traveling to northern Canada and misleading authorities in order to receive the vaccine. CPPIB is the country’s largest pension fund and manages $476-billion on behalf of Canadians. The CPPIB is governed independently from the federal government but it reports to a board of directors selected by Canada’s minister of finance. Rod Phillips, Ontario's former finance minister, resigned from his post in late December after taking a personal trip to St. Barts. Head of Canada Pension Plan board received COVID-19 vaccine in Dubai: reports. Mark Machin was asked to resign as a consequence of front-running a COVID-19 vaccine in the United Arab Emirates, whilst Canada was still struggling to accuire vaccines. The federal government is actively discouraging Canadians from travelling abroad and recently implemented strict quarantine measures for those returning home. Machin told staff he followed all travel protocols related to his role as head of the pension fund while on the trip. CPP Investments said Friday that Mark Machin tendered his resignation after discussions with the Canada Pension Plan Investment Board (CPPIB) Thursday night. Want to discuss? Mark Machin disclosed the information in an internal memo after the Wall Street Journal reported he flew to the United Arab Emirates earlier this month, where he received the first dose of the Pfizer-BioNTech vaccine and is awaiting the second dose. https://globalnews.ca/news/7664526/cppib-ceo-mark-machin-vaccine-dubai The CPP Investments board has appointed John Graham as the new CEO. Eric Akis: Roasted fish, with an Asian twist, "Imagine" - no religion? Machin, 54, an alumnus of Cambridge and Oxford Universities, joined CPPIB in March 2012 and was appointed as president and chief executive officer in 2016. Mark Machin resigned his position as president and CEO of the Canada Pension Plan Investment Board after disclosing in a memo to staff that he … Machine Speed 2600 – 2800 Cigarettes Per Minute. He is the first CPPIB CEO to be forced to resign, a source told Reuters. CPP Investments says Mark Machin tendered his resignation to the board Thursday night. CPPIB chief executive Mark Machin steps down in the wake of COVID-19 vaccination controversy The $476-billion manager of most Canadians’ retirement savings planned to … "This trip was intended to be very private and I am disappointed it has become the focus of public attention and expected criticism," he wrote. 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Molins mark 8 cigarette machine 2800 Cigarettes/Minute speed, US $ 99000 - 200000 / Unit, United Arab Emirates, Molins, New.Source from ORCHID TOBACCO INDUSTRIES LTD on Alibaba.com. MK-8 D Cigarette Maker with Max 5. Under Machin, CPPIB reported net return of 3.1 per cent for the year ended March 31, 2020, down from 8.9 per cent a year earlier. Further, his travelling to Dubai, when policy was clear on limited travel, is indicative of lack of judgement. The UAE says it provides COVID-19 vaccinations to residents and citizens only, free of charge, and requires a valid residency identification card to receive the shots. “We are very disappointed by this troubling situation and we support the swift action taken by the Board of Directors,” said Kat Cuplinskas, press secretary for Canada’s Ministry of Finance. "We were not made aware of this travel and further questions should be directed to the CPPIB on this matter.". Machin received Pfizer’s vaccine shot after arriving in the UAE with his partner this month, the Wall Street Journal reported on Thursday, adding he had stayed on in the UAE and was due to receive his second dose in coming weeks. It manages Canada’s national pension fund and invests on behalf of about 20 million Canadians. Prior to that he was with Xerox Innovation Group for over nine years. Graham was previously its … Machin said in the email viewed by The Canadian Press that he remains in Dubai with his partner "for many reasons, some of which are deeply personal.". "This was a very personal trip and was undertaken after careful consideration and consultation," the memo reads. That compensation was a mix of salary and incentive pay, including in … Mark Machin made C$5.385 million in 2020. 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