Surprise Resignation of Hydro-Québec’s Interim CEO Pierre Despars: What Led to His Departure?

2023-06-22 20:19:36

The outgoing interim CEO Pierre Despars. (Photo Hydro-Quebec)

The interim president and CEO of Hydro-Québec, Pierre Despars, created a surprise when he recently announced to the board of directors of Hydro-Québec that he is stepping down before the arrival of Michael Sabia, on August 1. .

“Interim President and CEO, Pierre Despars, recently informed the Chair of the Board of Directors, Manon Brouillette, of his decision to leave Hydro-Québec,” reads the brief press release issued by Hydro-Québec. Quebec.

Joined by Dealsthe state-owned company’s media relations had no information on the reasons for his departure, nearly six weeks before the end of his interim term.

Jean-Hugues Lafleur, Executive Vice-President and Chief Financial Officer at HQ, will assume the interim as of today, until August 1st.

Pierre Despars replaced the former CEO of the state-owned company, Sophie Brochu, who left the company on April 11, about two years before the end of her term.

The former boss of Énergir has given up the presidency of Hydro-Québec amid tension between her vision and that of the Minister of Energy, Pierre Fitzgibbon, about the future of the producer of renewable energy.

At Hydro−Québec since 2020, Mr. Despars is also a former employee of Énergir, where he worked from 1991 to 2018.

With The Canadian Press

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