Morneau Shepell getting new CEO

Stephen Liptrap was named president and CEO of Canadian pension benefits and investment consultant Morneau Shepell, effective May 5.

He will replace Alan Torrie, who will retire on that date, the firm said in a news release Thursday. Mr. Liptrap currently is chief operating officer. There are no plans to replace him in that position, said spokeswoman Helen Reeves.

Mr. Torrie's retirement and Mr. Liptrap's appointment will be made official immediately prior to the company's annual shareholders meeting on May 5.