Monaco transitions to the position from fuel distributor Parkland, where he previously served as chief financial officer and held leadership roles within the Canadian business division. His background also includes significant experience in buy-side investment management, a skillset Freehold aims to leverage as it stabilizes its executive leadership.

The appointment follows the resignation of Shaina Morihira, who vacated the post on May 15 after serving less than a year. Freehold initiated a formal search process in April to identify her successor, utilizing an external executive recruiting firm to vet potential candidates for the vacancy.