MONTREAL, Feb. 6, 2014 /CNW Telbec/ - The Interim President of the Board
of Directors of the Fonds de solidarité FTQ, Mr. Daniel Boyer,
announces that the Fonds de solidarité FTQ will soon bring to an end
the employment contract of the President and CEO, Mr. Yvon Bolduc. The
parties have agreed on March 31 as the date of termination.
"I would like to thank Yvon for his years at the head of the Fonds,
during which he oversaw nearly eight years of growth, in particular
increasing its assets from 6.6 to 9.7 billion dollars while obtaining
an excellent performance to the benefit of our shareholders," said
Mr. Boyer. "It is our conviction that Yvon has always acted in good
faith, with integrity, with great skill and to the best of his
knowledge, while always maintaining the organisation's best interests.
However, in the context of the announcement with respect to new
governance, the time has come to bring a new face to the Fonds
leadership, a leadership that must meet new challenges while continuing
to accomplish its socio-economic mission as it has done for 30 years
now. I would like to thank Yvon for having accepted to remain in his
position until March 31 to ensure an orderly transition," continued Mr.
Mr. Bolduc extended his gratitude to the Board of Directors and the
Fonds employees. "It was my great privilege to contribute to growing
the Fonds, and for the past 12 years to support not only the nearly
600,000 shareholders who count on the Fonds to build their retirement
savings, but also the 2,400 Fonds business partners throughout Québec
who drive the province's economy," said Mr. Bolduc. "I leave with the
conviction that all that we have experienced, most particularly the
improvements made to our governance in 2009, has enabled the Fonds to
change its culture for the better. And that the journey these past few
years has been meaningful both for its financial results, with ten
consecutive positive semesters that generated over 2.5 billion dollars
in profits during this 5-year period, and in terms of the quality of
the investments and integrated asset management. I am proud to leave a
financially strong Fonds with a devoted, experienced and talented
management team, and I am convinced that they will brilliantly meet all
the challenges to come," concluded Mr. Bolduc.
The Fonds will respect its termination standards and Mr. Bolduc's
employment contract, which provides for the payment of two years'
severance to be fully paid to him upon his departure.
The Board of Directors of the Fonds now institutes a process to nominate
a new president and chief executive officer.
SOURCE: Fonds de solidarité FTQ
For further information:
Information for journalists only:
Senior Advisor, Media Relations and Communications
Fonds de solidarité FTQ
The Fonds de solidarité FTQ on the Web:
Site web: www.FondsFTQ.com