MONTREAL - Quebecor Inc. (TSX:QBR.B) is undergoing its second leadership change in little more than a year, with the announcement that its president and chief executive is retiring.
Robert Depatie, who was promoted to the post last May when Pierre Karl Peladeau stepped down, announced Monday that he was retiring for health reasons. Peladeau was elected as a Parti Quebecois candidate in the recent provincial election, although the party was knocked from power by the Liberals.
The new president and CEO of Quebecor and Quebecor Media is Pierre Dion, who has been a member of Quebecor Media's executive committee since 2004. Dion will also remain president and CEO of TVA Group until a replacement is named.
The handover is effective immediately but Depatie will remain to oversee the transition in support of Dion until May 30.
The company didn't disclose the nature of the health issue faced by Depatie, who is in his mid-fifties.
In addition to leaving to top management post in the Quebecor group, Depatie is retiring as CEO of its Videotron telecommunications arm â€” a position he has held since 2003 â€” and as a director of Quebecor and Quebecor Media, which is one of Canada's biggest newspaper, broadcasting and Internet groups.
"It is with deep regret that I announce my retirement after 13 wonderful years with Videotron and Quebecor," said Depatie.
"I am very proud to have worked at one of the flagships of Quebec Inc. and I thank all the management teams and all the employees I had the pleasure of working with."
Depatie had long headed Quebecor's primary financial engine, its cable service, before helping to launch its cellphone operations in 2010.
Depatie, who studied marketing at Western University in London Ont., has been married to Christiane Laporte since 1984. Before joining Quebecor Media, he held a number of senior positions in the food distribution industry, including president of Le Marquis/Planters and executive vice-president of Heinz Canada Ltd. from 1993 to 1998.