BC Ferries CEO and president Mike Corrigan to step down early 2017

After five years as president and CEO, Mike Corrigan is moving on from BC Ferries in early 2017 to "pursue new opportunities," the companysaid Friday in a news release.

Corrigan, who has been with BC Ferries for 13 years, has been president and CEO since January 2012.

He will be stepping down effective March 31, 2017, at the completion of his current contract, according to a statementfrom BC Ferries.

"It is never easy to step down and let someone else take the helm," said Corrigan.

"So I'm stepping down with mixed emotions, because my time at BC Ferries has been tremendously rewarding and satisfying. But I am at a stage in my career that I feel it is time to pursue new opportunities."

Corrigan replaced controversial former CEO

Corrigan was previously the chief operating officer and executive vice president of business development at BC Ferries.

He was the successor tocontroversialformer CEO David Hahn, who caused a public outcrybecause of the$1 million compensation package he was earningat a time when BC Ferries hadbeen raising prices and cuttingservices.

When hewas hired in December 2011 B.C. Ferriessaid Corrigan's total pay package would be about$563,000, or about60 per cent of Hahn's $1 million package,in line with new provincial legislation at the time.

BC Ferries' board chair Donald Hayes announced Corrigan would be stepping down at the board's annual public meeting Aug. 19.

The company saysa search is already underway to find hissuccessor.

"We want to thank Mike Corrigan for his ongoing dedication and determination to ensure BC Ferries delivers the safest and best service possible to BC residents and visitors," Hayes said.

"Mike is leaving the company in a very good place and has done an outstanding job as our president and CEO for the past almost five years."