Gail Cook-Bennett, chair of Manulife Financial Corporation and the Manufacturers Life Insurance Company named Richard DeWolfe as his successor.

Cook-Bennett will retire from the board in May 2013, having reached retirement age. As vice chair, DeWolfe will assist Cook-Bennett in managing a smooth transition over the coming months.

DeWolfe joined the Board in 2004 and is currently managing partner of DeWolfe & Company, a real estate management and investment consulting firm.