Head of Videotron Named as CEO of Quebecor

This article was last updated on April 16, 2022

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A press statement has confirmed that the president and chief executive of Quebecor Inc. (TSX:QBR.B) and Quebecor Media Inc, Pierre Karl Peladeau, has decided to resign from his position, however, he still intends to remain associated with the companies and oversee corporate strategy. Peladeau had joined Quebecor, which was founded by his father, in 1985 and has been serving as president and CEO for the last 14 years.

The newly appointed president and CEO of the Quebecor is declared to be Robert Depatie, who was currently serving as president and CEO of Quebecor’s Videotron cable and telecom service since 2003. The implementation of this decision will be done in May, when Quebecor is planned to hold its annual meeting in Montreal. Peladeau mentioned that “the governance committee and I are very pleased to transfer responsibility for the corporation’s management to Robert.” He reminded that in the past decade, Videotron has been able to increase its operating income up to $1.2 billion, i.e. an increment of $275 million, as it extended its services to include home phones and wireless communications.

The growth of Videotron has primarily made up for the declines of Quebecor’s newspapers, which is suffering from an industry-wide decline in advertising and reader support as newer forms of media have grown in popularity. It was stated that “a particular point of pride for me is the role our achievements of recent years have played in driving Quebec’s economic development and the thousands of high-tech jobs we have created. I also wish to take this opportunity to thank our 16,000 employees for their support and their contribution to our success.”