Caisse de dépôt et placement du Québec has extended its president and CEO’s employment for five more years.

CDPQ announced that Charles Emond’s mandate has been renewed until February 6, 2029. The CDPQ board’s move was approved by the Quebec government in accordance with the organization’s incorporating act.

“Over the past four years, under Charles Emond’s leadership, CDPQ has delivered solid results in an atypical environment marked by unusual market conditions,” said Jean St. Gelais, who chairs CDPQ’s board, in a news release. “In this context, and supported by his team, he introduced key strategic changes to the CDPQ portfolio to generate results that meet depositors’ needs and create value added.”

While Emond dealt with the disruption, said St. Gelais, CDPQ significantly grew its assets in Quebec and mobilized its teams around several structuring projects in real estate and infrastructure.

“CDPQ will have to continue to navigate a complex context as it executes its mission in the coming years. As such, and in light of Charles Emond’s remarkable performance in recent years, the board of directors has decided to renew his mandate now,” St. Gelais added.

Emond’s mandate renewal comes after CDPQ decided to integrate subsidiaries Ivanhoé Cambridge and Otéra Capital. In wake of the move, Ivanhoé Cambridge President and CEO Nathalie Palladitcheff chose to resign. But she will stay on until the transition is completed.

“I would like to thank the board for their trust and I’m extremely proud to start this new chapter with the Executive Committee and all our teams,” said Emon in the news release.

Emond joined CDPQ as vice-president in 2019 and was promoted to president and CEO a year later. Before joining CDPQ, he held executive positions with Scotia Bank for about two decades.

CDPQ invests globally in real estate, major financial markets, private equity, infrastructure, and private debt. At last report, the pension fund held $424 billion in net assets.

Photo: CDPQ