Former Prime Minister Brian Mulroney Named Chairman and CEO of Quebecor

Videotron

All eyes are on Quebecor now: the company is distancing itself from its controlling shareholder, Pierre Karl Péladeau, as it has chosen another chairman in the person of former prime minister Brian Mulroney, reports the Globe and Mail.

The company disclosed in a corporate filing on Wednesday that Mr. Mulroney, 75, will be named chairman of the board at Quebecor’s annual meeting next month. The filing also revealed Quebecor paid outgoing chief executive Robert Dépatie $7.8-million after he decided to resign for undisclosed health reasons in April.

Péladeau lately has been focusing on politics, and he is said to have a great chance of taking over the leadership of the Parti Québécois, which, by the way, lost power in the election. His political aspirations had been seen as a roadblock in Quebecor’s wireless ambitions, but this is about to change, as Mulroney is seen as “someone who can smooth the way in Ottawa”.

Mulroney, currently vice-chairman of the board, will be named Chair and CEO of Quebecor on June 19 at the company’s annual meeting, and his present position will be taken over by Québec businessman Pierre Laurin.

By Mulroney taking over the company, Quebecor has every chance of “easing” the telco’s relations with the federal government, which is actively encouraging the growth of a fourth national player.

However, as we previously reported, the current setup needs to be changed, and both Quebecor and Wind Mobile, the most viable rivals of the incumbents, agree. Wind Mobile’s co-founder, Simon Lockie, has presented his case to the Senate this week, and Quebecor is about to meet with the federal government. That meeting will be decisive in the company’s future expansion plans.

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  • jfmartel

    So, who’s gonna complain that Quebecor wants to break this country?

  • kkritsilas

    Firstly, Quebecor doesn’t, and can’t “break this country”, they are just a company. However, it would not ease any concerns if there was a self described “separatist” running company that could potentially become the fourth national carrier for potential, and existing, customers.

    I am firmly of the belief that WInd, Videotron, and possibly Mobilicity will combine in some way to form the 4th national carrier. The brand will stay as Wind outside of Quebec, and Videotron inside of Quebec. The combined company, while still much smaller than the Big 3, will have somewhere above 1.5M subscribers (figuring Wind at about 750K, Videotron at 700K, and Mobilicity at about 130K, but those numbers are from memory, and may be off). With >1.5M subscribers, nationwide coverage (combination of WInd and Videotron networks), and the Videotron plans being made available nationwide, it would create an environment that is much more competitive than currently exists outside of Quebec (with possible exceptions in Thunder Bay, Saskatchewan, and possibly Manitoba). It will go a long way towards reversing the insane data plan pricing that the Big 3 are currently offering, I have no doubt.

    Kostas

  • Crosseyedmofo

    me