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Stefan Kristjanson, president and chief operating officer, Canada of Great-West Lifeco. Inc., will retire at the end of the year.

Jeff Macoun will take over the president and COO roles immediately, Great-West Lifeco said Thursday in a release. Macoun was previously the deputy chief operating officer for Canada and executive vice-president, group customer at the firm.

Kristjanson has been appointed as a special advisor to the CEO and COO until he retires on Dec. 31, the release said.