Power Corp co-CEO taking medical leave, will return by end of year

Power Corp co-CEO taking medical leave, will return by end of year

Power Corporation Chairman and Co-Chief Executive Officer Paul Desmarais, left, and Deputy Chairman, President and Co-CEO Andre Desmarais arrive for the company’s annual general meeting in Montreal on May 13, 2016. THE CANADIAN PRESS/Graham Hughes

MONTREAL — Power Corporation of Canada co-CEO Andre Desmarais is taking a temporary medical leave from his day-to-day activities at the Montreal-based holding company.

The company says Desmarais will continue to monitor and be involved in any major issues affecting Power Corporation (TSX: POW).

But during his leave, Desmarais will forego all remuneration from Power Corporation.

He is expected to resume all his activities at the company by the end of this year.

Power Corporation said Desmarais made his decision based on the advice of his physician at the Montreal Heart Institute.

The Canadian Press

Categories: Business

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