Board of Directors

Hydro-Québec’s Board of Directors complies with the requirements of the Hydro-Québec Act with regard to governance. It also follows the guidelines of the Canadian Securities Administrators applicable to state-owned enterprises, even though it is not legally bound to do so because Hydro-Québec is not publicly traded.

Board of Directors members

Michael D. Penner

Chairman of the Board

Michael D. Penner is a lawyer, entrepreneur, and an Executive Chairman with a leadership record of orchestrating paradigm change in both the private and public sectors. Prior to selling Peds Legwear (Peds) to Gildan Activewear Inc. in August 2016, Mr. Penner was the company’s President and Chief Executive Officer. In October 2014, the gouvernement du Québec appointed him as Chairman of the Board of Hydro-Québec, Canada’s largest electric utility and power generation company and the world’s fourth largest hydropower producer.

As Chair of Hydro-Québec, Mr. Penner helped lead the renewal of this iconic symbol of the Québec economy. After years of challenging relations between this 14-billion dollar company and its various stakeholders, Mr. Penner embarked on an “evolutionary” transformation of the enterprise. Accomplishments to date include the appointment of a majority of new board members (with gender parity); the recruitment of a new CEO, a new Secretary General, two new division presidents and a new CIO. Under his leadership, Hydro-Québec’s governance has been modernized and revitalized. New board committees have been established, including an IT committee, and a comprehensive five-year Strategic Plan has been completed and adopted.

Éric Martel

President and Chief Executive Officer, Hydro-Québec

Member of the Executive, Environment and Public Affairs, Finance, Pension Plan Financial Management, and Information Technologies committees

Geneviève Bich

Member of the Human Resources Committee

Vice President, Human Resources, Metro inc.

Anik Brochu

Member of the Environment and Public Affairs and Human Resources committees

Director, Human Resources, Groupe T.A.P. inc.

Carl Cassista

Chair of the Human Resources Committee; member of the Governance and Ethics, and Information Technologies committees

President, Technologies Axion ltée

Michelle Cormier

Chair of the Audit Committee; member of the Executive and Finance committees

Operating Partner, Wynnchurch Capital (Canada) Ltd.

Anne-Marie Croteau

Associate Dean of Professional Graduate Programs and External Relations, John Molson School of Business, Concordia University

Laurent Ferreira

Member of the Audit and Information Technologies committees

Executive Vice President and Managing Director, Derivatives and Equities,
Banque Nationale du Canada

Hélène V. Gagnon

Member of the Environment and Public Affairs Committee

Vice-president, Public Affairs and Global Communications, CAE

Suzanne Gouin

Member of the Executive, Environment and Public Affairs, and Human Resources committees

Corporate Director

Isabelle Hudon

Chair of the Environment and Public Affairs Committee; member of the Governance and Ethics Committee

Executive Chair, Québec and Senior Vice-President, Client Solutions, Financière Sun Life

Robert Keating

Deputy Minister of Energy and Natural Resources, Gouvernement du Québec

Yvon Marcoux

Chair of the Pension Plan Financial Management Committee; member of the Governance and Ethics, and Finance committees

Corporate Director

Marie-Josée Morency

Executive Director, Chambre de commerce et d’industrie Saguenay Le Fjord

Paul Stinis

Chair of the Finance Committee; member of the Executive and Pension Plan Financial Management committees

Senior Vice-President and Treasurer, BCE Inc.

Marie-Anne Tawil

Member of the Governance and Ethics, Audit, and Information Technologies committees

President and Chief Executive Officer, Les Investissements Iron Hill inc.

Board of Directors

Under the Hydro-Québec Act, the company’s Board of Directors is made up of 17 members*, including the Chairman of the Board and the President and Chief Executive Officer. The directors’ diverse professional backgrounds are a definite asset for the Board’s eight committees:

  • Executive
  • Governance and Ethics
  • Audit
  • Human Resources
  • Environment and Public Affairs
  • Finance
  • Pension Plan Financial Management
  • Information Technologies

The Board’s mandate is to administer the company’s business efficiently, in accordance with the Hydro-Québec Act, the Companies Act and the applicable regulations.

Its principal functions include reviewing and approving the Strategic Plan and the annual Business Plan, setting the company’s annual performance targets, reviewing financial results on a monthly basis, and performing the cyclical review of integrated business risk management.

The Board also approves the appointment of executives other than the President and Chief Executive Officer, as well as the policies governing compensation and working conditions for Hydro-Québec’s employees and executives. In addition, it approves the company’s major capital projects in generation, transmission and distribution, as well as important matters submitted to the Régie de l’énergie.

Rules of conduct for directors and executives

The conduct of directors and executives is governed by strict rules and principles set out in the following documents:

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