MONTREAL, Oct. 9, 2013 /CNW Telbec/ - La Caisse de dépôt et placement du
Québec today announced that Michael Sabia's mandate as President and
Chief Executive Officer has been renewed for a further five-year
period. In accordance with la Caisse's statutes, the appointment was
made by the Board of Directors and ratified by the Government of
"Michael Sabia more than met the considerable challenges of his first
mandate. He put la Caisse back on track after the 2008 financial
crisis, and repositioned our investment strategy to better navigate a
changing world economy. He achieved all of that while delivering
excellent financial results, investing in Québec and throughout the
world, and leading a substantial renewal of the organization itself.
This exceptional performance led the Board to recommend unanimously the
renewal of Michael's mandate as President and CEO," said Robert
Tessier, Chair of the Board of la Caisse.
"Since 2009, with the entire Caisse team, we have built more solid
foundations for the future, which will help us realize la Caisse's full
potential," said Michael Sabia, President and CEO. "Of course, as I
always say, we still have a lot of work to do. Our next big challenge
is to ensure la Caisse is, and is seen to be, among the world's finest
institutional investors. This will require time, rigour and relentless
commitment. Our goal remains the same: to better serve our depositors
and all Quebeckers," added Mr. Sabia.
"On a more personal note, I am honoured by the decisions of our Board
and of the Government of Québec that give me the opportunity to
continue building this unique institution. I look forward to the work
that is ahead of us to meet the requirements of our two-fold mandate:
to generate strong returns and to contribute to Québec's economic
development," Mr. Sabia concluded.
Mr. Sabia's mandate was renewed for a five-year period starting on March
13, 2014. There are no changes to his compensation.
SOURCE: Caisse de dépôt et placement du Québec
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