Hydro-Quebec: Disappointment over his departure

Outgoing interim CEO Pierre Despars. (Photo by Hydro-Québec)

Hydro-Québec’s interim president and CEO, Pierre Despars, caused surprise by recently announcing to Hydro-Québec’s board of directors that he would be leaving his duties on August 1, ahead of the arrival of Michael Sabia.

“Interim President and Chief Executive Officer, Pierre Despars, recently informed Manon Broulet, Chair of the Board of Directors, of his decision to leave Hydro-Québec,” reads a brief press release issued by Hydro-Québec Québec.

Joined by AgreementsThe state-owned company’s media relations had no information on the reasons for his departure, nearly six weeks before the end of his interim term.

Jean-Hugues Lafleur, executive vice president and chief financial officer at HQ, will take over on an interim basis from today until August 1.

Pierre Despares replaces the state-owned company’s former CEO Sophie Brochu, who left the company on April 11, nearly two years before her mandate was to end.

The former Energir boss stepped down as president of Hydro-Québec amid tension between her and Energy Minister Pierre Fitzgibbon’s vision of the renewable energy producer’s future.

At Hydro−Québec since 2020, Mr. Despars is also a former employee of Énergir, where he worked from 1991 to 2018.

With Canadian Press