Transportation and Infrastructure Minister Todd Stone has issued the following statement on Walter Gray’s retirement:

“ICBC board chair Walter Gray has notified the B.C. government that he is retiring as chair of ICBC’s board of directors effective Dec. 31, 2015. After a long and successful career in the private sector and many years of dedicated public service, including this past year as chair, Mr. Gray has decided it’s time to enjoy retirement.

“Current board member Ronald Olynyk will be stepping in as interim chair of ICBC’s board of directors effective Dec. 31, 2015, with a term running to March 31, 2016.

“Mr. Olynyk brings 35 years of experience as a chartered accountant and a commitment to serving the public, and I have every confidence that he will do a great job serving as Interim chair until a permanent replacement is found. We will be taking steps early in the New Year to find a permanent candidate for this important role.

“I would like to take this opportunity to sincerely thank Walter Gray for his valuable contributions to British Columbia and all ICBC customers serving as board chair for ICBC over the past year.

“Mr. Gray’s deep commitment to community service was evident as he took on the role of board chair for ICBC, after dedicating 16 years as mayor and councillor of Kelowna. During his time as the head of the board, Mr. Gray has overseen the board’s efforts to keep basic insurance rates affordable for British Columbians during times of increasing claims costs.

“Over the course of the next year, the B.C. government will continue to work with ICBC to identify and implement measures that will mitigate the causes of rate increases, to help ensure that ICBC insurance rates remain as low and as affordable as possible.

“All board chair appointments are governed by the overriding principle of selection based on merit and are handled by the provincial Board Resourcing and Development Office (BRDO).”