MONTRÉAL, Feb. 15, 2017 /CNW Telbec/ - Caisse de dépôt et placement du Québec announced today that Michael Sabia's mandate as President and Chief Executive Officer has been renewed until March 31, 2021. In accordance with la Caisse's statutes, the appointment was made by the Board of Directors and ratified by the Government of Québec.
"Over the course of his second mandate, Michael Sabia has continued to take la Caisse further by giving it the means to seize the best investment opportunities. Many of these important strategies are still being implemented. The globalization of the institution's activities, the continuous evolution of our portfolios to address current market challenges, as well as the Réseau électrique métropolitain project, just to name a few, are significant projects for la Caisse. It is precisely to allow Michael to see through the implementation of these strategies that the Board has decided unanimously to renew his mandate until March 2021," said Robert Tessier, Chairman of the Board of la Caisse.
"It is a privilege for me to continue the work started these past years, with our entire team, to ensure la Caisse is, and continues to be recognized as one of the world's leading institutional investors. I would like to thank the Board for giving me the opportunity to complete these major initiatives," said Michael Sabia, President and CEO of la Caisse.
Mr. Sabia's mandate was renewed for a four-year period, until March 31, 2021. No changes have been made to his compensation.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2016, it held $254.9 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
SOURCE Caisse de dépôt et placement du Québec
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