Sophie Brochu was appointed by the Quebec government on 1er April 2020 for a five-year term, thus making history as the first woman president and chief executive officer of the state-owned company (except for the interim passage of Lise Croteau in 2015).
His resignation, which will take effect in April, is a surprise. She will only have been in her position for a period of three years. It was a short stint at the head of the largest state-owned company in Quebec compared to that of his predecessors such as Guy Coulombe (six years), André Caillé (nine years) and Thierry Vandal (ten years ).
This is a prestigious position, with great visibility, which places the incumbent of this formidable function at the heart of multiple major issues, at the same time economic, environmental and social, and this, throughout the territory of Province.
Under the sign of rupture
In her communication to employees following this announcement, the CEO described herself as an “architect”, the one who defines the contours of the site that others will implement. Sophie Brochu will have in fact marked the course of Hydro-Québec not in continuity, but in rupture, forced by the obligation of the energy transition, one of the greatest challenges of our time.
The 2022-2026 strategic plan, adopted under his leadership, bets on a 50% increase in energy production over the next 30 years in order to allow Quebec to decarbonize its economy.
The electricity we consume will be more expensive. It will therefore have to be used more sparingly, especially considering the interest that our clean energy arouses among many investors around the world.
In addition to this strategic plan, the outgoing CEO has some successes to her credit, including the management of a large firm in the midst of a pandemic and a more open approach with indigenous communities.
For markets outside Quebec, two major successes: the export contract to New York State, the largest in Hydro-Québec’s history, and the acquisition of 13 hydroelectric power stations in New England , an investment that advantageously positions the company as an important local player in the decarbonization efforts of this region of the United States. Sophie Brochu also enjoyed great credibility with her employees, including the youngest, who appreciated her direct approach: internally, the customary formality towards the manager had disappeared; everyone called him by his first name.
It also carried out a vast reorganization, putting an end to the reign of divisions (production, transport, distribution) in place for a long period. A new structure, very different from those of the past, has just been put in place.
The announcement of his resignation certainly caused some consternation among the employees. The public disagreements she had last fall with the new Minister responsible for Energy, Pierre Fitzgibbon, about the use of our electricity, had made them fear a sudden resignation. But these frictions seemed things of the past, thanks to the establishment of a committee on the economy and the energy transition chaired by the Prime Minister and in which the CEO had her place.
Will the departure of Sophie Brochu mark a change of direction for the state-owned company? The main interested party told the employees that this will hardly be the case. His strategic plan would be the “star of the North” that his successor and the employees must henceforth carry out. However, as we know, the real challenge of such an ambitious plan lies in its execution, with all the complexities that entails.
The passage of Sophie Brochu at the head of Hydro will have been remarkable. No doubt. But, it must be said, his unexpected resignation leaves the impression of an unfinished business. Perhaps time will allow us to take a different look at the legacy of the first woman to lead this Quebec flagship.
* Ex-employee of Hydro-Québec, from 1988 to 2018