Infrastructure Ontario president and CEO Ehren Cory announced his resignation on January 22.

He leaves to join the private sector after three years at the helm of the crown-owned agency. His final day with IO will be April 30. Although his term was due to wrap up in February, he agreed to stay in his post for a short time longer to help the government and the agency’s board of directors find a suitable replacement.

Cory’s history with IO dates back seven years. During his tenure as president and CEO, he oversaw the corporation’s expansion into transit, the launch of its enterprise real-estate portfolio, its involvement in affordable housing and long-term care, and the continued growth and of its loans program.

"Under his watch, IO has continued to grow its impact and value as a government agency and has successfully delivered billions of dollars of public infrastructure that is critical to the lives of the people of Ontario,” said Infrastructure Ontario Minister Laurie Scott. “Ehren has also been critical to ensuring that IO is well positioned to succeed on the next generation of infrastructure projects, including the hospitals, roads, courthouses and subway projects on the $65-bilion P3 Pipeline that Ehren and I announced last fall—the largest in Ontario's history.”

Infrastructure Ontario is internationally recognized for its track record in successfully delivering large, complex projects. Its lending program has advanced more than $10 billion in affordable, long-term financing to municipalities, universities and other eligible public sector and non-profit organizations. IO also modernizes and enhances the government real estate portfolio through asset planning, facilities contract management, and real estate advisory services.

“During the past three years, we have done so much, all the while building a strong working relationship with a new government, which has entrusted us with more work in the past 18 months than we could have imagined,” said Cory. “As we have grown and evolved to deliver on this expanding mandate, we have reached new frontiers in terms of the complexity of the commercial solutions we have developed, the scale of transactions we have been asked to execute, and the sophistication of our whole life-cycle approach to asset management across the breadth of the government portfolio.

There is no announce timetable for IO to name Cory’s successor.