Brian Mulroney to be named Quebecor chairman - Action News
Home WebMail Monday, November 11, 2024, 01:16 PM | Calgary | 9.6°C | Regions Advertise Login | Our platform is in maintenance mode. Some URLs may not be available. |
Business

Brian Mulroney to be named Quebecor chairman

Former prime minister Brian Mulroney will soon take on the role of board chairman at telecom and media giant Quebecor Inc., according to a corporate filing.

Former prime minister will be appointed to the role next month

Brian Mulroney to be named Quebecor chairman

10 years ago
Duration 1:16
Former prime minister will be appointed to the role next month

Former prime minister Brian Mulroney will soon take on the role of board chairman at telecom and media giant Quebecor Inc., according to a corporate filing released Wednesday.

"Subject to their election, theRight Honourable Brian Mulroney...will be proposed to act respectively as Chairman of theBoard and Vice-Chairman of the Board and Lead Director at the meeting of the Board of Directors to be heldimmediately after the Meeting," the filing says.

Mulroney, 75, is currently vice-chairman of the board. His promotion could be an attempt by Quebecor to draw a line between itself and the sovereigntist rhetoric of its former chairman, Pierre Karl Peladeau.

Peladeau stepped down from the board in March toenter provincial politics.The billionaire media mogulwas elected to the Quebec legislature in April andis considered the top candidate to take over the fledglingParti Qubcois.

While Peladeau'sarrival to the PQwas supposed to bring star status and deep pockets, critics say the Quebecor CEO instead forced sovereignty to the head of the platform when he proclaimed fist-in-air his desire to make Quebec a country.

The party suffered its worst defeat in at least a generation, losing 24 seats in the provincial election, and leader PaulineMaroisannounced she wouldstep down.

Peladeau, who served asCEO and president of Quebecorfrom 2003 to 2013, still controls 73 per cent of the voting sharesunsettling for a business with expansionary visions while under the thumb of a man who wants to break up the country.

Looking for wireless service growth

Quebecor'slargest newspaper is in Quebec, the Journal de Montreal, and its French-language television network TVA reacha huge audience in the province.

But most of thecompany's 30-plus paid-circulation dailies are printed in Ontario. And the company is looking to grow its Videotron wireless service outside Quebec, after buying up wireless spectrum in Ontario,Alberta and British Columbiain the federal governments auction earlier this year.

Mulroney is considered an ardent federalist with strong connections to policymakers in Ottawa, where the cellphone industry is regulated.

Iain Grant, managing director of theSeaboard Group, says Mulroney will put the "Canada"back into Quebecor.

"The national wireless strategy is a key part, so too will leveraging the national media brands," he said.

With files from The Canadian Press