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Toronto-based Home Capital Group president/CEO departs

Toronto-based Home Capital Group Inc.'s board terminated the employment of Martin Reid as president and CEO of the company, effective immediately.

Reid was also removed as director of the company's units, including Home Trust, according to a March 27 press release.

Bonita Then, a director of the company since 2008, will act as interim president and CEO, while the company looks for a permanent replacement.

Then has served as chair of the risk and capital committee, as well as vice chair of the audit committee of the company's board.