ICBC chair Paul Taylor steps down unexpectedly
Resignation comes less than two years into his five-year term
The chair of ICBC's board of directors Paul Taylor has stepped down unexpectedly, just a year and half after he was appointed.
In a news release, the provincial automobile insurance corporation did not offer any reason for the sudden departure, but sources have told CBC News that Taylor stepped down for personal reasons.
Taylor was appointed chair of the Insurance Corporation of British Columbia's board of directors in July, 2012, and his term was to end January, 2017.
Officials with the Transportation Ministry and ICBC confirmed that because Taylor resigned, he will receive no severance or any other money as part of his departure.
ICBC closed the Burnaby facility when it learned that 98 repaired cars and trucks were sold without full disclosure of their accident history. At least 22 of the vehicles were bought by ICBC managers at rigged auctions, according to an internal investigation.
During his career Taylor has held several high profile posts, including B.C. deputy minister of finance, CEO of the B.C. power company Naikun Wind Energy Group Inc, and chief of staff for former premier Gordon Campbell, which earned him a $114,000 severance package from Premier Christy Clark in 2011 after just half a year on the job.
In his place longtime ICBC board member and advertising executive Jatinder Rai has been appointed interim chair of ICBC.