Guy Cormier staying on as Desjardins Group president and CEO
Montreal, June 22, 2023 – During the annual general meeting (AGM) held in March 2023, caisse delegates voted to change Desjardins Group's governance model. When the current president's term ends at the AGM in March 2024, the role of chair of the board will be separated from the role of president and chief executive officer, a split that reflects best practices for sound governance.
This new model will be implemented over a period of no more than 24 months, using an orderly, prudent approach. During this time, Desjardins Group's board of directors will adjust governance documents, adopt parameters for the next cycle of strategic planning and prepare for the succession.
The board also announced today that Guy Cormier will assume the role of president and CEO starting in March 2024, as the new governance model is implemented.
Given Mr. Cormier's experience over the years and the strong leadership skills he's demonstrated, the board believes that he'll provide invaluable support as the organization transitions to this new model.
He'll be assisting the board with its work to split the leadership roles between March 2024 and March 2026 at the latest. At the same time, he will continue to lead Desjardins Group with the full powers granted to the president and CEO.
Once the new governance model has been fully implemented, by March 2026 or sooner, the board will select a new president and CEO for Desjardins Group. Guy Cormier will not be eligible for this position.
The chair of the board will be elected by their peers on the Desjardins Group Board of Directors and step into their new role in May 2024.
You can read about the members of the board at Desjardins.com.
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Public Relations, Desjardins Group