Michael Sabia will be next Hydro-Québec CEO: reports

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QUEBEC — Former Caisse de dépôt et placement du Québec CEO Michael Sabia will be the next president and CEO of Hydro-Québec, several media reported on Tuesday.

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Sabia, currently federal Deputy Minister of Finance, would succeed Sophie Brochu, who left the state-owned company on April 11, before the end of her term.

Brochu then felt that Hydro-Québec needed someone with a different profile for the next step. To illustrate her point, she compared Hydro-Québec’s strategic plan to building a house. Like an architect, she believes that her strength is to draw the outlines of the strategic plan in collaboration with civil society actors. The next step would require someone whose strength would be operational execution, she said. “Don’t get me wrong, building the house is more difficult than drawing it,” she said at a news conference in February.

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