The Trudeau government comes to thank the CEO of the Bank of infrastructure, Pierre Lavallée, in the midst of a crisis of the COVID-19. He also appoints the former CEO of the Caisse de dépôt et placement du Québec, Michael Sabia, the chair of the board of directors.
“We are still in the period of the acute management of the effects of the virus on the health. But this period will end, and institutions such as the Bank of infrastructure will play an important role in helping our country recover economically. To this end, I am pleased to announce that Michael Sabia has agreed to join the c. a. of the BIC, ” said Catherine McKenna, minister of Infrastructure and Communities and minister responsible for the Bank.
Mr. Pierre Lavallée leaves his position of president and general manager of the BIC ” for new challenges “, said the release. “This decision shall enter into force immediately. “
“Peter has made a significant and lasting contribution to the establishment of this new institution. I want to thank him and to wish him good luck in his future projects “, the minister said McKenna.
The cloth was burning for some time between Ottawa and Mr. Lavallée, who were accused of not having, until now, delivered the goods since the commencement of operations of the BIC, in 2018.
Last fall, the ex-minister of Infrastructure, François-Philippe Champagne, had intervened personally to overturn the decision of the CA of the Bank of Canada’s infrastructure (BIC) relating to the remuneration of its CEO.
The Bank’s reputation has also been tainted by the various blunders regarding services in French, and number 2 has recently slammed the door after just nine months in office. Other high-ranking officers have also left the ship after less than a year in office.
Sabia c. a.
The new president of the c. a., Michael Sabia, had left the Cash there are just a couple of months. It is from the director of the Munk School of Global Affairs and Public Policy at the University of Toronto.
At the request of the board of directors of the Bank, Ms. Annie Ropar will be responsible for the management of the BIC until the board appoints a new president and ceo. Ms. Ropar is currently the chief directorates financial and administrative aspects of the Bank.