Alison Nankivell has quit as CEO at Toronto-based business accelerator MaRS, just nine months after taking the helm. She has been named president and CEO of Export Development Canada (EDC), a federal Crown corporation. 

Nankivell will replace Mairead Lavery, who had served as EDC president and CEO for six years. Grace Lee Reynolds, head of development and programming at MaRS, will step in as interim CEO starting Feb. 5, when Nankivell leaves the post, the organization said in a statement. 

“Under the guidance of a united and dedicated leadership team, the organization is well-prepared to advance its goal and continue supporting Canada’s innovation ecosystem,” MaRS spokesperson Wendy Bairos said in an emailed statement. “Plans are in motion to ensure a seamless leadership transition.”

The move follows a brief but rocky tenure for Nankivell. She faced intense backlash this spring for not condemning the federal government’s proposed changes to capital gains taxes, which business and tech leaders said would harm MaRS’s member companies.

In June, Nankivell cut about 20 positions, including several senior roles, as part of a broader overhaul of MaRS’s operations. At the time she said the cuts were meant to “ensure long-term sustainability of the organization.” In October, she cut another 19 employees.

One of Nankivell’s main concerns as MaRS CEO was the organization’s reliance on government funding. It received over $7 million in federal grants in the 2024 fiscal year, and $9 million the year before that. Provincial grants totalled $9.8 million and $10.3 million in 2024 and 2023, respectively. 

In October Nankivell told The Logic she wanted to reduce government funding from about two-thirds of MaRS’s budget to 50 per cent. She also hoped to cut annual spending from about $27 million or $28 million a year to $22 million. 

In her new job, Nankivell will lead EDC, Ottawa’s arm’s-length export agency, which provides government-backed loans, guarantees, insurance and other financial services to businesses that sell their products abroad. She’s joining the organization at a time of deep uncertainty for Canada’s exporters. 

Last week, the federal government announced new measures for EDC to support companies in the face of a potential trade war with the U.S. They include more financing and insurance options for small and medium-sized businesses, and more support for Canadian exporters navigating global markets. 

“Her leadership will be instrumental in driving these initiatives forward as well as fostering growth and innovation in Canada’s export sector,” reads a statement from Global Affairs.