New role for Pierre Karl Peladeau: After 25 years, Quebecor president and CEO is stepping away from day-to-day duties

By Pierre Karl Peladeau, President and CEO of Sun Media Corporation

Quebecor Inc. President and Chief Executive Officer Pierre Karl Peladeau looks on during their annual general meeting in Montreal, in this May 9, 2012, file photo.  REUTERS/Olivier Jean/Files

Quebecor Inc. President and Chief Executive Officer Pierre Karl Peladeau looks on during their annual general meeting in Montreal, in this May 9, 2012, file photo. REUTERS/Olivier Jean/Files

On Thursday, Quebecor made public certain changes to its management team that will come into effect during our next annual shareholders meeting on May 8. One of these changes was the decision to appoint current Videotron president and CEO Robert Depatie as president and CEO of Quebecor and Quebecor Media.

For my part, I intend to maintain an active role in the company, overseeing strategic issues as chairman of the board of Quebecor Media and vice-chairman of the Quebecor board.

I have always thought that one of the most important responsibilities of a CEO is to establish a strong business base built around an outstanding management team and a solid succession plan. Such a belief has afforded me the privilege to work for and with some outstanding leaders.

Over the last 13 years, I believe that we have delivered for our shareholders a company that has become a significant success story in Quebec and Canada. We have made major investments in growth sectors, most recently in wireless communications.

We have always respected our words in regard to balance sheet management and debt ratios and we generated much better average margins than our competitors in our different sectors of activities.

We achieved an enviable position in the marketplace, through our technological leadership and our obsession with customer service.

As president and CEO of Quebecor and Quebecor Media, I have been privileged to be an intimate part of all of these changes and to help provide the excellent financial results we have been able to deliver to our investors.

I have been basically doing this job for almost 25 years and I have devoted myself fully to the interests of our shareholders. Simply put, for many years my life has been Quebecor, in most cases to the exclusion of everything else.

Because one cannot be a part-time CEO, I have decided to retire from my position and devote my time to other pursuits. My family and I think that the time has come for me to step away from the day-to-day operations of the company and play a different role, providing advice and leadership on strategic projects vital to our company’s future.

I will remain active with the company as chairman of the Quebecor Media board and vice-chairman of the Quebecor board. I also intend to continue to involve myself in our philanthropic endeavours because I believe that our society’s welfare and continued development depend on having companies be more involved, becoming partners in furthering health, education and other social causes.

My dad used to say: “When you receive so much from life, you must give back even more.” I profoundly believe in this philosophy.

Accordingly, and on my recommendation, the board of directors of the company has unanimously decided to appoint my esteemed colleague Robert Depatie as the next CEO of Quebecor and Quebecor Media at our next annual shareholders meeting.

I have worked with Robert for the last decade and I have complete confidence in his leadership skills and in his determination to build on the strong and healthy foundation we laid together.

As the largest shareholder of the company, I do not intend to sell my family shares.

I would also like to thank my partner, Julie Snyder, who has been with me from the start of the Videotron acquisition journey and has always provided me with counsel, love and support throughout the crucial challenges in which I have been involved.

During this period she also managed, with her great expertise and talent, to produce several TV shows which have drawn the largest audiences in TVA’s history.

Julie and I have three wonderful children whom we love deeply. I want to be a good father for them, and will now be able to share and spend more time with them.

Thanks to all of you.

— Pierre Karl Peladeau is president and CEO of Quebecor, Quebecor Media and Sun Media.