Board of Directors

The Corporation believes in the importance of good corporate governance and the central role played by directors in the governance process.

Power Corporation’s Board of Directors is composed of seasoned professionals who bring their diverse experience to the table. This balance of skills and competencies results in the prudent, conservative oversight that has enabled the Corporation to deliver attractive long-term shareholder returns.

Pierre Beaudoin

Mr. Beaudoin is Chairman of Bombardier Inc., the world's only manufacturer of both planes and trains. Bombardier offers the broadest portfolio in the rail industry and stands as the third largest manufacturer of civil aircraft in the world. Mr. Beaudoin is also a director of Bombardier Inc. and of BRP Inc.

He joined the Bombardier group in 1985 and held the positions of President and Chief Operating Officer of Bombardier Aerospace from 2001 to 2008, Executive Vice-President of Bombardier Inc. from 2004 to 2008, President and Chief Executive Officer from 2008 to 2015 and Executive Chairman of the Board from 2015 to 2017. He was also President of Bombardier Business Aircraft and President and Chief Operating Officer of Bombardier Recreational Products.

Mr. Beaudoin studied Business Administration at Collège Jean-de-Brébeuf and Industrial Relations at McGill University in Montréal.

Marcel R. Coutu

Mr. Coutu is a company director. From 2001 to January 1, 2014, he was President and Chief Executive Officer of Canadian Oil Sands Limited and Chairman of Syncrude Canada Ltd. Mr. Coutu was previously Senior Vice-President and Chief Financial Officer of Gulf Canada Resources Limited. He has more than 30 years of experience in the energy sector, primarily focused in the areas of corporate finance, investment banking, mining, and oil and gas exploration and development.

Mr. Coutu is a director of Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Putnam Investments, IGM Financial, Investors Group and Mackenzie. He is also a director of Brookfield Asset Management Inc., Enbridge Inc., and of the Calgary Exhibition and Stampede Board.

He holds a Bachelor of Science (Honours) in Geology from the University of Waterloo and an MBA from the University of Western Ontario. Mr. Coutu is a past member of the Association of Professional Engineers, Geologists and Geophysicists (APEGGA) and a member of the Canadian Council of Chief Executives.

André Desmarais

Mr. Desmarais is Deputy Chairman, President, and Co-Chief Executive Officer of Power Corporation, and Executive Co-Chairman of Power Financial. Prior to joining Power Corporation in 1983, he was Special Assistant to the Minister of Justice of Canada and an institutional investment counsellor at Richardson Greenshields Securities Ltd.

He is a director of many Power group companies in North America, including Power Financial, Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Putnam Investments, IGM Financial, IG Wealth Management and Mackenzie. He is also a director and Vice-Chairman of Pargesa in Europe.

Over the years, cultural, health, and other not-for-profit organizations in Montréal have benefitted from his contributions, involvement, and dedication. He has played key roles in a number of fundraising campaigns, including those of the Montreal Museum of Fine Arts, the Montreal Heart Institute, Leucan, the Canadian Red Cross, the Canadian Cancer Society, and Centraide of Greater Montreal. He is Chairman of the Fondation Baxter & Alma Ricard, a member of the Chairman’s International Advisory Council of the Americas Society, Honorary Chairman of the Canada China Business Council, and a member of several China-based organizations.

He holds a Bachelor of Commerce from Concordia University and received honorary doctorates from Concordia University, Université de Montréal and McGill University. In 2003, he was made an Officer of the Order of Canada and, in 2009, an Officer of the National Order of Québec.

Paul Desmarais, Jr.

Mr. Desmarais is Chairman and Co-Chief Executive Officer of Power Corporation and Executive Co-Chairman of Power Financial. He joined Power in 1981 and assumed the position of Vice-President the following year. In 1984, he led the creation of Power Financial to consolidate Power’s major financial holdings, as well as Pargesa Holding SA, under a single corporate entity. Mr. Desmarais served as Vice-President of Power Financial from 1984 to 1986, as President and Chief Operating Officer from 1986 to 1989, as Executive Vice-Chairman from 1989 to 1990, as Executive Chairman from 1990 to 2005, as Chairman of the Executive Committee from 2006 to 2008 and as Executive Co-Chairman from 2008 until today. He also served as Vice-Chairman of Power Corporation from 1991 to 1996. He was named Chairman and Co-CEO of Power Corporation in 1996.

After Power Financial and the Frère Group of Belgium took control of Pargesa in 1990, Mr. Desmarais moved to Europe from 1991 to 1994, to develop the partnership with the Frère Group and to restructure the Pargesa group. From 1982 to 1990, he was a member of the Management Committee of Pargesa, in 1991, Executive Vice-Chairman and then Executive Chairman of the Committee; from 2003 to 2019, he was Co-Chief Executive Officer and he was named Chairman of the Board in 2013. He has been a director of Pargesa since 1992.

He is a director of many Power group companies in North America, including Power Financial, Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life, Putnam Investments, IGM Financial, Investors Group and Mackenzie. In Europe, he is Chairman of the Board of Groupe Bruxelles Lambert, and a director of LafargeHolcim and SGS. He was a director of Total until 2017.

Mr. Desmarais is Chairman of the Board of Governors of The International Economic Forum of the Americas (Canada), a Trustee of The Brookings Institution, Co-Chair of the Brookings International Advisory Council and a member of the Brookings Executive Committee (Washington), a member of The Business Council (United States) and of The Business Council of Canada. He is also active on a number of philanthropic advisory councils.

In 1994, he received the Insigne d’Officier de l’Ordre de la Couronne of Belgium. In 2005, he was named an Officer of the Order of Canada and he received the Executive of the Year Award from the Academy of International Business. In 2009, he was named an Officer of the Ordre national du Québec and in 2012, Chevalier de la Légion d’honneur in France. He holds a number of honorary doctorates.

He obtained a Bachelor of Commerce degree from McGill University and a MBA from the European Institute of Business Administration (INSEAD), France.

Gary A. Doer

Mr. Doer is Senior Business Advisor to the law firm Dentons Canada LLP since August 2016. Previously, he served as Canada’s Ambassador to the United States from October 2009 to January 2016. He served as the 20th Premier of Manitoba from 1999 until 2009. He was elected a member of the Legislative Assembly of Manitoba in 1986 and during his tenure also served as Minister of Urban Affairs and as Minister of Crown Investments. From 1979 to 1986, Mr. Doer was the President of the Manitoba Government Employees’ Association. 

Mr. Doer is a director of Power Financial, Great-West Lifeco and IGM Financial. He also serves on the Board of Directors of Air Canada. He served on the Board of Directors of Barrick Gold Corporation until 2018.

He serves as volunteer Co-Chair of the Wilson Centre’s Canada Institute, a non-partisan public policy forum focused on Canada-United States relations. In 2010, Mr. Doer became a Member of the Order of Manitoba and, in 2011, he received a distinguished diplomatic service award from the World Affairs Council. 

Anthony R. Graham

Mr. Graham is Vice-Chairman and a director of Wittington Investments, Limited, an investment management company and the principal holding company of the Weston-Loblaw Group. He also serves as Chairman and a director of Choice Properties Real Estate Investment Trust. From 2000 to 2014, he was President of Wittington Investments. Prior to joining Wittington, he held senior positions in Canada and the U.K. with National Bank Financial Inc. (formerly Lévesque Beaubien Geoffrion Inc.), a Montréal-based investment dealer.

Mr. Graham serves on the boards of Power Financial as well as Graymont Limited, Grupo Calidra, S.A. de C.V. and Wittington Properties Limited. From 1996 to 2016, he served on the board of George Weston Limited and, from 1999 to 2015, on the boards of Loblaw Companies Limited and President's Choice Bank, of which he served as Chairman until 2014.

Mr. Graham is Chairman of the Ontario Arts Foundation, Charter for Business, Duke of Edinburgh Award Canada and of the Shaw Festival Theatre Endowment Foundation. He is also currently a Board Member of the Art Gallery of Ontario, the Canadian Institute for Advanced Research, St. Michael’s Hospital, the Trans Canada Trail Foundation and Luminato.

Mr. Graham is Honorary Colonel of the Royal Regiment of Canada. In 1998, he was awarded the Government of Ontario Volunteer Service Award. In June 2007, he received an Honorary Doctor of Laws degree from Brock University. 

J. David A. Jackson

Mr. Jackson is Senior Counsel at the Canadian law firm Blake, Cassels & Graydon LLP. He joined the firm in 1972, became a partner in 1980 and was its Chairman from 1995 to 2001. 

Mr. Jackson is also a director of Power Financial, Great-West Lifeco, Great-West Life, London Life, Canada Life Financial and Canada Life. He also served as a director of a number of public and private corporations, including Investors Group from 1991 to 2001. He is recognized as a leading practitioner in the areas of mergers and acquisitions, corporate finance and corporate governance by numerous independent assessment organizations.

He holds a Bachelor of Commerce degree from the University of Windsor and a Bachelor of Laws (LL.B.) from Osgoode Hall Law School.

Isabelle Marcoux

Ms. Isabelle Marcoux is Chair of the Board of Transcontinental Inc. since 2012, a leader in flexible packaging in North America and Canada’s largest printer. The Corporation is also a Canadian leader in its specialty media segments. Ms. Marcoux was Vice Chair of the Board from 2007 to 2012 and Vice President, Corporate Development from 2004 to 2012.

Between 1998 and 2004, Ms. Marcoux held successive roles as Director, Legal Affairs and Assistant Corporate Secretary, and Director, Mergers and Acquisitions. Before joining Transcontinental Inc., she was a lawyer at McCarthy Tétrault LLP.

Ms. Marcoux is a member of the board of Rogers Communications Inc. She was also a member of the board of George Weston Limited for 12 years, until the spring of 2019. In addition, she is a member of the board of The Montreal Children's Hospital Foundation and the Advisory Board of McGill University’s Faculty of Law.

Actively engaged in the community and in non-profit organizations, Isabelle Marcoux co-chaired the Centraide of Greater Montreal 2016 campaign and is Chair of the Major Donors’ Circle since 2018. She has also been involved in several fundraising campaigns, notably for the Montreal Museum of Fine Arts, the Montreal Heart Institute, the Tel-Jeunes Foundation, the Young Musicians of the World Foundation and the Foundation Montreal inc.

In 2016, Ms. Marcoux was awarded the medal of the National Assembly of Quebec and, in 2017, she became the first Canadian to win the Visionary Award for Strategic Leadership from the global organization Women Corporate Directors Foundation. Also in 2017, she was inducted into the Women's Executive Network (WXN) Hall of Fame, after being named one of Canada’s 100 most powerful women in 2010, 2012 and 2016.

Ms. Marcoux holds a Bachelor’s degree in Political Science and Economics, and a Bachelor’s degree in Civil Law, both from McGill University. She has been a member of the Québec Bar since 1995.

Christian Noyer

Mr. Noyer is a company director. From 2003 to 2015, he served as the Governor of the Banque de France, France’s central bank which is linked to the European Central Bank. He was Vice-President of the European Central Bank in Frankfurt from 1998 to 2002. He was appointed to the Treasury in the Ministry of the Economy and Finance in 1976 and served in a number of roles including Director at the Ministry for Economic Affairs, Finance and Industry.

Previously, he served as a member of the Governing Council and the General Council of the European Central Bank from 1998 to 2015, and as a member of the board and Chairman of the Bank for International Settlements from 2003 to 2015 and from 2010 to 2015, respectively. He has also served as alternate Governor at the International Monetary Fund from 1993 to 1995 and from 2003 to 2015, and as a member of the Financial Stability Board from 2008 to 2015. 

He is a Council member of the Lloyds of London and a director of the NSIA Group in Africa.

Mr. Noyer has also served as a member of the boards of a number partially state-owned companies as a representative of the French Government, including Suez, Société Générale, Le Crédit Lyonnais, Le Groupe des Assurances Nationales, Dassault Aviation, Pechiney, Air France and Électricité de France. 

He chairs the Institute for Public Financial Education in France and is a director of the ESA Business School in Lebanon.

Mr. Noyer is Honorary Governor of the Banque de France and has been awarded the honours of Commandeur de la Légion d’Honneur and Commandeur des Arts et des Lettres in France, Commander of the National Order of the Lion in Senegal, Great Cross of the Ordén del Merito Civil in Spain, Officier de l’Ordre National de la Valeur in Cameroon and Gold and Silver Star of the Order of the Rising Sun in Japan.

R. Jeffrey Orr

Mr. Orr is President and Chief Executive Officer of Power Financial since 2005. From 2001 to 2005, he was President and Chief Executive Officer of IGM Financial. Prior to joining IGM Financial, he was Chairman and Chief Executive Officer of BMO Nesbitt Burns and Vice-Chair, Investment Banking Group, Bank of Montreal. He had been with BMO Nesbitt Burns and predecessor companies since 1981.      

He serves as a director of Power Financial and is a director and Chairman of a number of Power Financial subsidiaries, including Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, London Insurance Group, Canada Life Financial, Canada Life, Putnam Investments, IGM Financial, IG Wealth Management, and Mackenzie.        

Mr. Orr is active in a number of community and business organizations. He holds a Bachelor of Arts — Honours Business Administration (HBA) degree from the Richard Ivey School of Business in London, Ontario.

T. Timothy Ryan, Jr.

Mr. Ryan is a company director. He was Managing Director, Global Head of Regulatory Strategy and Policy of JPMorgan Chase & Co., a global financial services firm, until 2014. From 2008 to 2013, he was President and Chief Executive Officer of the Securities Industry and Financial Markets Association (SIFMA), a trade association representing 680 global financial market participants. Prior to joining SIFMA, he was Vice-Chairman, Financial Institutions and Governments, at J.P. Morgan, where he was a member of the firm’s senior leadership. Prior to joining J.P. Morgan in 1993, Mr. Ryan was the Director of the Office of Thrift Supervision, U.S. Department of the Treasury.

He is a director of many Power group company in North America, including Power Financial, Great-West Lifeco, Great-West Life, Great-West Life & Annuity, London Life, Canada Life Financial, Canada Life and Putnam Investments, having previously served as a director of Power Corporation and Power Financial from 2011 to 2013 and of Great-West Lifeco and some of its subsidiaries from 2010 to 2013. He is Chairman of the board of Santander Holdings U.S.A., Inc., Santander Bank, N.A. and Banco Santander International. He has served as a director of Markit Group Limited and of Lloyds Banking Group. 

Mr. Ryan is a graduate of Villanova University and the American University Law School. He served as an officer in the U.S. Army from 1967 to 1970.

Emőke J.E. Szathmáry

Dr. Szathmáry was named President Emeritus of the University of Manitoba in 2008. She received the title of Professor Emeritus in the Department of Anthropology in 2014. She was President and Vice-Chancellor of the University of Manitoba from 1996 to 2008, Provost and Vice-President (Academic) of McMaster University in Hamilton from 1994 to 1996, and, before that, Dean of the Faculty of Social Science of the University of Western Ontario in London (now Western University). Dr. Szathmáry is a director of Power Financial. She served on the boards of Great-West Lifeco, Great-West Life, London Life, Canada Life Financial and Canada Life, until May 2017.

Dr. Szathmáry is a distinguished scholar, teacher, scientist, and administrator. She is Co-Chair of the Members of the Canada Foundation for Innovation, and a member of the Board of Governors of McMaster University. Dr. Szathmáry has also served as a director of numerous educational, research, and philanthropic not-for-profit organizations, including the St. Boniface General Hospital, the Manitoba Museum Foundation, the Manitoba Medical Service Foundation, the CancerCare Manitoba Foundation, the International Institute for Sustainable Development, the Pierre Elliott Trudeau Foundation, the Prime Minister's Advisory Committee on Science and Technology, and the Board of Governors of the University of the Arctic.

Dr. Szathmáry received a Bachelor of Arts (Honours) and a Ph.D. from the University of Toronto. In addition to receiving the Lieutenant Governor’s Medal for Excellence in Public Administration in Manitoba, she has been awarded seven honorary doctorates in recognition of her research and contribution to higher education. Dr. Szathmáry is a Fellow of the Royal Society of Canada and a Member of both the Order of Canada and the Order of Manitoba. In 2015, she was appointed Honorary Colonel of the Royal Winnipeg Rifles.

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