LÉVIS, QC, Jan. 20, 2012 /CNW Telbec/ - Monique F. Leroux, Chair of the Board, President and CEO of Desjardins Group, yesterday announced to the members of the Board of Directors and the committee in charge of supervising the election of the organization's next president, that she intends to seek a second four-year term as head of the leading financial institution in Quebec.
Ms. Leroux was elected President of Desjardins Group on March 15, 2008, and her current term will end March 31, 2012. This office may be held by an individual for a period of eight years, or two consecutive four-year terms.
The announcement of Ms. Leroux's intentions is one of the first steps leading to the election of the next Desjardins Group president. The subsequent steps include the following:
1) January 9 to 30, 2012: Nomination form available
2) January 23 to 30, 2012: Nomination period
(In the event that there are no other nominations at the end of the nomination period, the Chair of the Election Committee will declare the Chair of the Board, President and CEO elected by acclamation on January 31, 2012)
3) January 31 to March 16, 2012: Election period and meetings, as required, with members of the electoral college
4) March 17, 2012: If applicable, a special meeting of representatives of the Fédération des caisses Desjardins du Québec will be held, during which the election will take place.
Anyone who has been a member in good standing of a Desjardins caisse in Québec or Ontario for at least 90 days and who meets the other conditions specified on the nomination form is eligible for the office of President and Chief Executive Officer of Desjardins Group. The prospective candidate must first obtain the support of 10 signatories from among the members of the electoral college hailing from the various regions in Quebec, including Group Caisses, and Ontario.
The nomination form can be obtained from the Office of the Desjardins Group Election Chair, or from the Secretary of any Council of Representatives in Quebec and Ontario. Once completed, the form must be submitted to the Office of the Election Chair, 100, rue des Commandeurs, 6e étage ouest, Lévis, Québec, G6V 7N5, no later than 4:30 p.m. on January 30, 2012.
An Election Committee, chaired by Mr. Gilles Metcalfe, member of the Ouest de Montréal Council of Representatives, and consisting of seven other people who are members of various Councils of Representatives from the regions of Quebec, Group Caisses and from the Ontario region, will ensure that the electoral process is conducted according to the rules in place.
A unique feature in the financial institutions sector in Quebec and across Canada is that an electoral college of 255 people (and not the Board of Directors) is responsible for electing the organization's President and CEO, which is done by individual, secret ballot. The electoral college is composed of delegates from the Desjardins caisses who are members of the Councils of Representatives of the 15 regions in Quebec, the Group Caisses, and the Ontario region, as well as the Chair of the Board, President and CEO of Desjardins Group. The Councils of Representatives are democratic bodies of the Fédération des caisses Desjardins that are made up of elected officers and general managers from the caisses.
The person elected will officially take office after the Annual General Meeting, on March 31, 2012.
About Desjardins Group
Desjardins Group www.desjardins.com is the leading cooperative financial group in Canada with assets of nearly $190 billion. Drawing on the strength of its caisse network in Québec and Ontario, and its subsidiaries across Canada, it offers a full range of financial products and services to its 5.8 million members and clients. Desjardins specializes in Wealth Management and Life and Health Insurance, in Property and Casualty Insurance, in Personal Services, in Business and Institutional Services. As one of the largest employers in the country and among Canada's Top 100 Employers for 2012TM, Desjardins is supported by the skills of its 43,600 employees and the commitment of nearly 6,000 elected officers. A new education and cooperation program is now available to Desjardins members and the general public. For more information, visit www.desjardins.com/co-opme.
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