Chesswood Group Limited announced that Barry Shafran, Chesswood's President will be retiring on August 31, 2020. Ryan Marr, who recently joined Chesswood as a strategic advisor, has been appointed as Chesswood's new President. Until his retirement, Mr. Shafran remains as a Chesswood executive and will assist with the management transition. Chesswood also announces that Ed Sonshine, O.Ont., Q.C., has rejoined Chesswood's board of directors and has been appointed as Chairman. Mr. Sonshine, the chief executive officer of RioCan Real Estate Investment Trust, is a Chesswood founder and its shareholder, and was a director of Chesswood (and its predecessors) from 1998 to 2012. Since that time, Mr. Sonshine has been an advisor to Chesswood's board of directors. Mr. Sonshine has been a director of some of Canada's best known companies, including the Royal Bank of Canada. Fred Steiner, another Chesswood founder and one of its shareholders, who has served as Chesswood's Chairman from 2012 to 2020, continues as a member of the Chesswood board. Other changes to Chesswood's board are that David Obront and Barry Shafran have stepped down as directors. Ryan Marr is a Partner and the Chief Investment Officer of Waypoint Investment Partners, a Canadian asset manager with assets under administration in its investment funds and segregated accounts in excess of $100 million. Waypoint's focus includes investment in alternative funding strategies. Prior to joining Waypoint, Mr. Marr spent more than 10 years managing portfolios at Gluskin Sheff + Associates, a leading Canadian investment management firm. Taken together, Waypoint and accounts managed by Waypoint hold one of the ownership blocks of the outstanding Chesswood shares.