MONTREAL – Pierre Karl Peladeau is returning his focus towards his company’s cable and media division as CEO, the company announced this morning.
Peladeau is now vice-chairman of the board and CEO of Quebecor Media, announced Serge Gouin, chairman of the board of QMI. The media division operates such companies as cable operator Videotron, the Sun Media newspaper group and broadcaster TVA.
Peladeau remains president and CEO of Quebecor Inc., but is stepping down from the CEO’s chair at Quebecor World, the company’s mammoth printing arm. The Peladeau family controls the majority of the voting shares of the public company.
"The media and telecommunications industry is at a turning point in its development," said Gouin, in a release. "The ongoing technological revolution demands imagination, tenacity and leadership of a company such as ours, and the board of directors believes Pierre Karl is the man to tackle these new challenges. Just as he piloted Videotron’s transition from the monopoly era into an age of fierce competition in television distribution and transformed that company into a steadily growing operation, we are confident he will lead Quebecor Media to another stage of its development and shape it into a company that is fully adapted to the new technological realities."
Pierre Francoeur, who has been running QMI as president and COO, will remain in his position.
"Quebecor Media, the company we built after the acquisition of Groupe Videotron in October 2000, enjoys the operating flexibility it needs to adjust and continue growing in the new, constantly changing environment," said Peladeau, in the release. "I know I will be able to count on a seasoned and talented management team at each of our subsidiaries, and with their efforts Quebecor Media will remain the industry leader."
In a separate press release, Quebecor World announced that Wes Lucas is taking over as president and CEO of Quebecor World.
