CAAT Board of Trustees announces departure of CEO and new leadership team

  • Derek Dobson to leave CAAT effective immediately and repay 2025 vacation payout
  • New senior leadership team comprised of internal CAAT executives appointed

Toronto, March 6, 2026 — The CAAT Pension Plan (“CAAT” or “the Plan”) today announced the departure of CEO and Plan Manager Derek Dobson and unveiled a new senior leadership team to lead the organization.

Derek Dobson departure

CAAT has reached a settlement agreement with Mr. Dobson that brings closure to his employment at the Plan. As part of this agreement, Mr. Dobson has tendered his resignation and will leave CAAT effective immediately, and repay his 2025 vacation payout to CAAT.

Both Mr. Dobson and the CAAT Board of Trustees acknowledge the importance of moving forward in a manner that supports the long-term health of the Plan and the beneficiaries it serves.

CAAT also thanks the Financial Services Regulatory Authority of Ontario for its constructive engagement as the Plan continues to strengthen its governance and oversight.

New leadership team

CAAT also announced a new leadership team to execute on the Plan’s strategy, restore stakeholder trust and continue to deliver on CAAT’s pension promise to its members and sponsors.

“While the Plan has recently undergone a period of significant change, I am proud that these five senior leaders are all existing CAAT employees who will drive stability and institutional continuity while leveraging their strong internal relationships to engage and inspire our teams as they serve our member constituents every day,” said acting CAAT CEO and Plan Manager Kevin Fahey.

The following five leaders will report directly to Mr. Fahey:

  • Laura Foster, appointed interim Chief Financial Officer
  • Jillian Kennedy, appointed Chief Operating Officer
  • James Fera, appointed Chief Legal Officer & General Counsel
  • John Baiocco, appointed Senior Vice President, Funding & Sustainability
  • Stephen Hewitt, appointed Senior Director of Communications

Mr. Fahey will also continue to serve as the Plan’s Chief Investment Officer. A search for a Chief Human Resources Officer remains ongoing.

“On behalf of the Board, I’d like to thank Kevin for his strong leadership since his appointment as the Plan’s acting CEO and the impressive progress he has made in a very short period of time,” said CAAT Board of Trustees Chair Audrey Wubbenhorst. “The Board continues to focus on its work in the best interests of members and I would also like to express our gratitude to all of our stakeholders for their ongoing trust and confidence in the Plan.”

CAAT remains one of Canada’s most sustainable and well-funded pension plans. Its most recent independent valuations show the Plan at a 124% funded status, meaning that for every $1 of pension benefits CAAT has promised to members, the Plan has $1.24 in assets. With more than $23 billion in assets and over $6 billion in funding reserves, the Plan is well positioned to withstand market volatility, demographic change, and other risks.

About CAAT

Established in 1967, the CAAT Pension Plan is an independent, jointly governed plan that offers highly desirable modern defined benefit pensions. Originally created to support the Ontario college system, the CAAT Plan now proudly serves more than 800 participating employers in 20 industries, including the for-profit, non-profit, and broader public sectors. It currently has more than 125,000 members. The CAAT Plan is respected for its pension and investment management expertise and focus on stability and benefit security. On January 1, 2025, the Plan was 124% funded on a going-concern basis. 

Learn more at: www.caatpension.ca. 

For more information:
Stephen Hewitt
shewitt@caatpension.ca