Teranet Announces Upcoming CEO Retirement

TORONTO--(BUSINESS WIRE)--Teranet Inc. (“Teranet”), Canada’s leader in the delivery and transformation of statutory registry services, technology platforms and property intelligence solutions, announced today that Elgin Farewell, President and Chief Executive Officer, will retire after almost three decades with the company, including more than 13 years as President and CEO. Mr. Farewell will continue to serve as President and CEO while the Board completes its CEO succession process.

“Elgin’s leadership has been instrumental in building Teranet into the strong, resilient organization it is today,” said Andrea Bolger, Chair of Teranet’s Board of Directors. “The Board is deeply grateful for his dedication, judgment and lasting contribution, and we are committed to managing this planned succession process thoughtfully to support continuity for employees, customers, partners and stakeholders.”

Mr. Farewell joined Teranet in 1997 and has held a number of leadership roles with the company. He became President and CEO in 2013. Over his tenure, he helped advance Teranet’s role in modernizing land registration and strengthening long-term registry partnerships, while also supporting the company’s evolution into a broader platform, data and workflow solutions business. Today, Teranet is the only concessionaire supporting land registry operations in two Canadian jurisdictions, Ontario and Manitoba, and serves customers, government partners and professionals across the property value chain through statutory registry services, property intelligence, commercial data, insights and workflow solutions.

“It has been a true privilege to have been part of a company that has, in partnership with government, transformed an industry,” said Elgin Farewell, President and CEO of Teranet. “I am proud of what our teams have built together and grateful for the commitment and expertise that define this organization. I remain focused on supporting our people, customers, partners and stakeholders as Teranet prepares for its next chapter.”

“As Teranet’s long-term owner, OMERS Infrastructure has seen firsthand the scale and resilience of the business the Teranet team has built under Elgin’s leadership, and the important role it has played in helping OMERS deliver on its pension promise to members,” said Peter Gray, Senior Managing Director and Head of Americas, OMERS Infrastructure. “We thank Elgin for his stewardship and lasting contribution to Teranet. Over nearly three decades, he has helped shape Teranet’s growth, deepen its customer and government relationships, and position the company well for its next chapter, with a strong management team in place to carry the business forward.”

The Teranet Board has initiated a structured CEO succession and will oversee the search as it moves forward.

About Teranet

Teranet is Canada’s leader in the delivery and transformation of statutory registry services with extensive expertise in land and commercial registries. It also provides insightful property intelligence and data solutions to thousands of customers in the real estate, financial services, government, utilities and legal markets. Founded in 1991, Teranet operates the Electronic Registration System for the Province of Ontario, and the Land Titles and Personal Property registries end-to-end for the Province of Manitoba. Teranet has a global footprint through its ownership of Foster Moore, whereby its registry solutions include commercial off-the-shelf registry software that delivers operational cost reductions, enhanced security and process improvements. Teranet is proud to be recognized as one of Greater Toronto’s Top 100 Employers for ten years in a row (2017–2026). Teranet is owned by OMERS, one of Canada’s largest defined benefit pension plans, and is managed by OMERS Infrastructure, which invests globally on behalf of OMERS.