May 29 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
Bertrand is joining the company's wireless arm Videotron as
Quebecor has seen a string of management changes in recent
Controlling shareholder Pierre Karl Peladeau stepped down as
CEO to represent the separatist Parti Quebecois in a provincial
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