OTTAWA — The Canada Mortgage and Housing Corp. says Romy Bowers will succeed Evan Siddall as its chief executive beginning next month.

Previously an executive at Bank of Montreal, Bowers has been with the federal housing agency since 2015 and was most recently its senior vice-president of client solutions.

Bowers will takeover from Siddall who was appointed CEO in 2014 and agreed to an extension in 2018.

During his tenure, he was known for being critical of realtors and focusing on housing affordability.

Bowers is set to begin her five-year term as CEO on April 6.

She takes on the role as the COVID-19 pandemic continues its spread in Canada and interest rates remain low, propping up home sales and prices in several markets.

"I am excited to work closely with my colleagues across the corporation to help us continue to pursue our housing affordability aspiration," she said in a statement.

"I look forward to the new challenges and opportunities for learning and growth that lie ahead for me and I know I can count on the support of everyone at CMHC as we continue to work toward our 2030 goal.”

This report by The Canadian Press was first published March 2, 2021.

The Canadian Press