At the helm of the Caisse de dépôt et placement du Québec for four years, Charles Emond will remain there for the next five years. His mandate as president and CEO has just been renewed, the Caisse de dépôt announced late Wednesday.
The nomination of Mr. Emond for a second term was submitted by the institution’s board of directors, then approved by the government of Quebec today. His new mandate begins immediately and will end on February 6, 2029.
In a press release, the chairman of the board of directors, Jean St-Gelais, noted “the remarkable performance” of Mr. Emond, who took office in the midst of the COVID-19 pandemic. He congratulates him on having been able to deliver “solid results in an atypical environment, marked by extraordinary market conditions” in terms of asset management.
Besides this, Mr. Emond’s first mandate was also marked by the delivery of the Réseau express métropolitain (REM), through the subsidiary CDPQ Infra. His second mandate will be marked by the challenges of operating the light rail, while the institution must deal with repeated service shutdowns and the confusion surrounding communications to users.
$424 billion
This is the amount, in Canadian dollars, of the net assets of the Caisse de dépôt as of June 30, 2023.
The Caisse de dépôt must also manage the divisive issue of public transport in Quebec, while the Legault government entrusted it at the end of last year with the task of defining a structuring transport project for the capital region.
Charles Émond arrived at the head of the institution in January 2020, succeeding Michael Sabia – currently president and CEO of Hydro‑Québec – who had been in office since March 2009.
Before assuming this position, Mr. Emond supervised the Caisse de dépôt’s investments in Quebec and oversaw its strategic planning around the world as vice-president for a year. He also spent 18 years of his professional life at Scotiabank.
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