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To our Shareholders

The Honourable Paul Desmarais, P.C., C.C., O.Q.


On October 8th, 2013, we at Power Corporation and Power Financial Corporation, lost a devoted father, leader, colleague and friend. We were all most privileged to have known and worked with this remarkable man who we respected and loved so dearly.

Our father acquired control of Power in 1968, and led the Corporation as its Chairman and Chief Executive Officer until 1996. At that time, he passed the reins of management to us, and continued to serve as a Director and Chairman of the Executive Committee of the Board. He remained controlling shareholder until his death. His contribution to the Corporation over a span of almost fifty years was as invaluable as it is enduring.

His death is a tremendous loss for us all, however his legacy will continue through the strong core values he introduced at Power. He was the architect of a culture that fosters responsible ownership and management, respects individuals, supports our communities, believes strongly that long-term success is the product of hard work, perseverance and integrity. We will continue to build on the solid foundation and values that have formed the cornerstone of our business for many decades. We wish to confirm that, following the death of our father, control of Power Corporation remains within our immediate family.

We wanted all of the Corporations’ shareholders whom he served with such dedication to know how much he appreciated your support for so many years. The attached obituary seeks to capture the essence of the extraordinary man that he was.

Chairman and
Co-Chief Executive Officer
Power Corporation of Canada

Co-Chairman of the Board
Power Financial Corporation

Deputy Chairman, President and
Co-Chief Executive Officer
Power Corporation of Canada

Co-Chairman of the Board
Power Financial Corporation