Quebecor nominates former Canadian PM Mulroney as chairman

Thu May 29, 2014 8:44am EDT

May 29 (Reuters) - Quebecor Inc, a Canadian media and telecoms conglomerate, has nominated Vice Chairman Brian Mulroney, a former prime minister, to become chairman.

If elected at the company's annual shareholder meeting on June 19, Mulroney will succeed Francoise Bertrand, who has decided to stand down, according to a regulatory filing on Wednesday. (link.reuters.com/sex69v)

Bertrand is joining the company's wireless arm Videotron as chief executive.

Quebecor has seen a string of management changes in recent months.

Controlling shareholder Pierre Karl Peladeau stepped down as CEO to represent the separatist Parti Quebecois in a provincial election.

His replacement, Robert Depatie, then stepped down in late April due to health issues and was succeeded by Pierre Dion.

Mulroney was the prime minister of Canada from 1984 to 1993.

A lawyer before entering politics as leader of the Progressive Conservative Party, Mulroney is a past president of the Iron Ore Co of Canada.

This month, Quebecor posted a better-than-expected profit for the first quarter, helped by cost-cutting and asset sales, but the company reported customer losses in cable TV and telephony and a slow growth in Internet.

Quebecor's shares closed at C$26.75 on the Toronto Stock Exchange on Wednesday. (Reporting by Shubhankar Chakravorty in Bangalore; Editing by Kirti Pandey)