Western Financial Group CEO Appointed to Canadian Senate

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Tannas to remain with Western as Vice-Chairman, New CEO to be named by Labour Day

HIGH RIVER, AB, March 26, 2013 /CNW/ - Western Financial Group's (Western) President and CEO Scott Tannas was appointed to the Canadian Senate by Prime Minister Stephen Harper yesterday and the company has begun implementing its transition plan, including its search for a successor. Tannas will remain in his role as Western's President and CEO until December 31, 2013 after which he will assume a new role with the company as Vice-Chairman and Founder. He will begin his duties with the Senate on April 16, 2013.

Western expects to name a new President and CEO by Labour Day and to have that person work alongside Tannas for the last few months of the year. Tannas will remain a vital part of Western's Board where his new role will begin January 1, 2014. He has committed to hold the new position with Western for a minimum of 10 years.

"I am looking forward to beginning my new role as Senator and thank the people of Alberta and the Prime Minister for the opportunity to serve my country," said Tannas. "At the same time, I will remain deeply involved with Western Financial Group. In my new position, I will continue to focus on governance, community relations, employee relations and providing counsel on acquisition opportunities over the long term."

Tannas founded Western in 1996 in his hometown of High River, Alberta, and has overseen its tremendous growth ever since. The company now serves more than 600,000 customers through more than 120 offices across western Canada. In 2011, Western became a subsidiary of Desjardins Group, the country's leading financial cooperative.

"We are very proud of Scott and know he will serve the people of Alberta and Canada well in the Senate," said Sylvie Paquette, Senior Vice-President and General Manager, Property and Casualty Insurance for Desjardins Group. "His leadership has built Western into one of the strongest financial services companies in western Canada. Fortunately, Western and Desjardins have been able to plan for this day for some time and have created a succession plan that ensures Western will continue to operate at peak performance. We are pleased that Scott will remain with the company even as he puts his leadership skills to use in the political realm."

With his appointment, Tannas fills the seat vacated by Senator Bert Brown, who retired on March 22, 2013.

Western Financial Group is a western Canada based, diversified, financial services company serving more than 600,000 customers. Founded in 1996 and headquartered in High River, Alberta, Western provides insurance, banking and investment products and services through more than 120 office locations, the Internet (www.westernfinancialgroup.ca) and its contact centre 1-866-THE-WEST (1-866-843-9378). With a skilled team of approximately 1,500 employees, and backed by the strong resources of its owners, Western is committed to building the strongest financial services company in western Canada.

Image with caption: "Western Financial Group's President and CEO Scott Tannas was appointed to the Canadian Senate by Prime Minister Stephen Harper on Monday, March 25. (CNW Group/Western Financial Group)". Image available at: http://photos.newswire.ca/images/download/20130326_C8174_PHOTO_EN_24797.jpg

SOURCE: Western Financial Group

Eric Michalko
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Western Financial Group Phone: [phone], ext. 524
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