ICBC CEO jumps ship to become new head of BC Ferries

CTV News Vancouver's David Molko sits down with ICBC CEO Nicolas Jimenez to ask questions about the new, controversial insurance model.

The president and CEO of ICBC is departing his role at the insurance corporation to fill the CEO position at BC Ferries.

Nicolas Jimenez, who was CEO of ICBC for the past five years, will become CEO of BC Ferries starting on March 6.

He takes over from interim CEO Jill Sharland who has held the position since the summer of 2022, when BC Ferries ousted its former CEO Mark Collins.

Collins was CEO of BC Ferries from 2017 to 2022 and was suddenly fired as BC Ferries struggled through repeated staffing shortages, service interruptions and other "COVID-related challenges."

Sharland will now return to her previous role as BC Ferries vice president and CFO.

The company says Jimenez was chosen as the new CEO after an "international executive search."

Jimenez has a Master's degree in public administration from Harvard University and the University of Victoria, and a Bachelor's degree in political science from Wilfrid Laurier University, according to BC Ferries.

"Nicolas is a thoughtful, strategic leader who is committed to enhancing safety, reliability and affordability," said BC Ferries board chair Joy MacPhail in a release Tuesday.

"BC Ferries is facing a series of challenges including staffing shortages, service interruptions and fleet revitalization," she added. "Nicolas Jimenez is no stranger to big challenges and I know he will bring fresh ideas, innovative solutions and a renewed focus on the customer experience."

Meanwhile, ICBC has appointed its CFO, Phil Leong, as its interim president and CEO.

The ICBC board is now on the hunt for someone to permanently fill the position.

"It is a day of mixed emotions to be saying goodbye to Nicolas after almost a 20-year career with ICBC," said ICBC board chair Catherine Holt in a statement Tuesday.

"We look back on his contributions to ICBC with admiration and appreciation, especially for his years as president and CEO and the remarkable transformation he and his leadership team led for B.C.'s public auto insurer," she said.

Just two years ago, ICBC made the dramatic shift to a 'no fault' insurance model, which has led to savings for most drivers, but has left some crash victims feeling underserved.