The mandate of Desjardins Group boss Guy Cormier has been extended for a period of up to two years to allow the cooperative to make major governance changes.
Mr. Cormier, who was to leave Desjardins Group in the spring of 2024, sees his mandate extended “until March 2026 at the latest”, while the cooperative prepares to separate the role of president and board of directors from that of chief of management.
“The Board of Directors believes that because of the functions that Mr. Cormier has held over the past few years and the strong leadership he has exercised, he is the ideal person to accompany him towards the separation of duties model. functions,” the cooperative commented in a statement.
The decision to separate the two positions currently held by Mr. Cormier was made by Desjardins Group members at its annual meeting in the spring.
Desjardins now estimates that this change in governance will require a transition period of 24 months.
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