Power Corporation of Canada
Encyclopedia
Power Corporation of Canada is a Canadian company with assets in North America and Europe in a number of industries. These industries include media
, pulp and paper
, and financial services.
The corporation is known for its active participation in Canadian politics through its relationships and the relationships of the Desmarais family with prominent politicians of all political stripes.
The company was criticized for its links with Canadian politics, and specifically for its commitment to the defense of federalism in Quebec. Indeed, several former Canadian prime ministers have worked on staff: Brian Mulroney
, Jean Chrétien
, Paul Martin
, etc.
and his partner Peter A. T. Thompson. Nesbitt served as the company's first president. Power Corporation was created as a holding company
to manage their substantial investments in public utility
companies involved in the electrical power industry
in Quebec's Eastern Townships
plus in the other Canadian Provinces of Ontario
, Manitoba
, and British Columbia
. In the latter part of 1930s, the company acquired a controlling interest in Bathurst Pulp and Paper Company Ltd.
and in 1938, Canadian Oil Companies Ltd., selling the latter to Shell Oil Company
in 1962.
In 1952, Arthur J. Nesbitt was succeeded as president by his son Arthur Deane Nesbitt
(1910–1978). The family sold most their interest in Power Corporation to the Paul Desmarais
group in 1968 and by 1970 no longer had any involvement.
Power Corporation owns 100% of Gesca Ltee, 66.4% of Power Financial Corporation and 7.1 % of CITIC Pacific.
While it was originally established as an electric utility holding company, under the control of politically connected Paul Desmarais, Sr.
, the company became a conglomerate with major interests in publishing and the finance industry. Power Corp is widely described as the power behind the Canadian government and influential elected officials.
of the company are: Laurent Dassault, André Desmarais
, Paul Desmarais
, Paul Desmarais, Jr.
, Anthony Graham, Robert Gratton, Don Mazankowski
, Jerry Nickerson, James Nininger, Robert Parizeau, Michel Plessis-Bélair, John Rae, Amaury-Daniel de Seze, and Emöke Szathmáry
.
Directors Emeritus of the company are: James Burns and Michael Pitfield
.
, which was selected in 1996 to broker the Oil-for-Food program. Power owned a stake in Paribas through its subsidiary Pargesa Holding SA. Pargesa Holding SA’s investment portfolio also includes Imerys
, a mining entity majority owned by the Desmarais family and Belgian tycoon Albert Frère
.
The Desmarais family and Frère are also the largest shareholders in oil company Total SA, France’s largest oil company.
Total was the subject of a formal investigation by the United Nations
in February 2010 for bribery charges concerning oil deliveries from Iraq
during the rule of dictator Saddam Hussein
.
. Paul Desmarais, Jr. is one of thirty members of the North American Competitiveness Council
, a group whose advice directs the policies of Security and Prosperity Partnership of North America
(SPP). Additionally, the company has long been a close ally of the Liberal Party of Canada
, although former or current members of other Canadian political parties have also worked for Power Corp. A brief summary of the connections between Power Corp. and those with political power in Canada is below.
, Paul Desmarais, Sr., Paul Desmarais, Jr.
, Anthony Graham, Don Mazankowski
, Jerry Nickerson, James Nininger, Robert Parizeau, Michel Plessis-Bélair, John A. Rae, Amaury-Daniel de Seze and Emöke Szathmáry
.
Mass media
Mass media refers collectively to all media technologies which are intended to reach a large audience via mass communication. Broadcast media transmit their information electronically and comprise of television, film and radio, movies, CDs, DVDs and some other gadgets like cameras or video consoles...
, pulp and paper
Pulp and Paper
Pulp and Paper is the name of the largest United States-based trade magazine for the pulp and paper industry. See also: Paper engineering, Pulp and Paper Merit Badge...
, and financial services.
The corporation is known for its active participation in Canadian politics through its relationships and the relationships of the Desmarais family with prominent politicians of all political stripes.
The company was criticized for its links with Canadian politics, and specifically for its commitment to the defense of federalism in Quebec. Indeed, several former Canadian prime ministers have worked on staff: Brian Mulroney
Brian Mulroney
Martin Brian Mulroney, was the 18th Prime Minister of Canada from September 17, 1984, to June 25, 1993 and was leader of the Progressive Conservative Party of Canada from 1983 to 1993. His tenure as Prime Minister was marked by the introduction of major economic reforms, such as the Canada-U.S...
, Jean Chrétien
Jean Chrétien
Joseph Jacques Jean Chrétien , known commonly as Jean Chrétien is a former Canadian politician who was the 20th Prime Minister of Canada. He served in the position for over ten years, from November 4, 1993 to December 12, 2003....
, Paul Martin
Paul Martin
Paul Edgar Philippe Martin, PC , also known as Paul Martin, Jr. is a Canadian politician who was the 21st Prime Minister of Canada, as well as leader of the Liberal Party of Canada....
, etc.
History
Power Corporation of Canada was formed in 1925 by stockbrokers Arthur J. NesbittArthur James Nesbitt
Arthur James Nesbitt was a Canadian businessman and philanthropist who was a cofounder of Nesbitt, Thomson and Company stockbrokerage and the Power Corporation of Canada....
and his partner Peter A. T. Thompson. Nesbitt served as the company's first president. Power Corporation was created as a holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
to manage their substantial investments in public utility
Public utility
A public utility is an organization that maintains the infrastructure for a public service . Public utilities are subject to forms of public control and regulation ranging from local community-based groups to state-wide government monopolies...
companies involved in the electrical power industry
Electrical power industry
The electric power industry provides the production and delivery of electric energy, often known as power, or electricity, in sufficient quantities to areas that need electricity through a grid connection. The grid distributes electrical energy to customers...
in Quebec's Eastern Townships
Eastern Townships
The Eastern Townships is a tourist region and a former administrative region in south-eastern Quebec, lying between the former seigneuries south of the Saint Lawrence River and the United States border. Its northern boundary roughly followed Logan's Line, the geologic boundary between the flat,...
plus in the other Canadian Provinces of Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
, Manitoba
Manitoba
Manitoba is a Canadian prairie province with an area of . The province has over 110,000 lakes and has a largely continental climate because of its flat topography. Agriculture, mostly concentrated in the fertile southern and western parts of the province, is vital to the province's economy; other...
, and British Columbia
British Columbia
British Columbia is the westernmost of Canada's provinces and is known for its natural beauty, as reflected in its Latin motto, Splendor sine occasu . Its name was chosen by Queen Victoria in 1858...
. In the latter part of 1930s, the company acquired a controlling interest in Bathurst Pulp and Paper Company Ltd.
Abitibi-Consolidated
Abitibi Consolidated Inc. was a Canadian pulp and paper company based in Montreal, Quebec. Abitibi-Consolidated was formed from the merger of Abitibi-Price Inc. and Stone Consolidated Corp...
and in 1938, Canadian Oil Companies Ltd., selling the latter to Shell Oil Company
Royal Dutch Shell
Royal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
in 1962.
In 1952, Arthur J. Nesbitt was succeeded as president by his son Arthur Deane Nesbitt
Arthur Deane Nesbitt
Arthur Deane Nesbitt OBE, DFC, CdeG was a Canadian businessman and a decorated pilot and Wing Commander in World War II.- Early Life :...
(1910–1978). The family sold most their interest in Power Corporation to the Paul Desmarais
Paul Desmarais
Paul Desmarais, Sr., is a Canadian financier in Montreal. With an estimated net worth of $US 4.5 billion , Desmarais was ranked by Forbes as the 4th wealthiest person in Canada and 235th in the world.Desmarais also owns homes in Palm Beach, Florida and New York.He is CEO of the Power Corporation...
group in 1968 and by 1970 no longer had any involvement.
Power Corporation owns 100% of Gesca Ltee, 66.4% of Power Financial Corporation and 7.1 % of CITIC Pacific.
While it was originally established as an electric utility holding company, under the control of politically connected Paul Desmarais, Sr.
Paul Desmarais
Paul Desmarais, Sr., is a Canadian financier in Montreal. With an estimated net worth of $US 4.5 billion , Desmarais was ranked by Forbes as the 4th wealthiest person in Canada and 235th in the world.Desmarais also owns homes in Palm Beach, Florida and New York.He is CEO of the Power Corporation...
, the company became a conglomerate with major interests in publishing and the finance industry. Power Corp is widely described as the power behind the Canadian government and influential elected officials.
Corporate governance
Current members of the board of directorsBoard of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
of the company are: Laurent Dassault, André Desmarais
André Desmarais
André Desmarais, OC, OQ is a Canadian businessman, whose hometown is Montreal, Quebec.He is one of two sons of Paul Desmarais, Sr. He is currently the president and co-chief executive officer of his father's founding company the Power Corporation, based in Montreal, Canada...
, Paul Desmarais
Paul Desmarais
Paul Desmarais, Sr., is a Canadian financier in Montreal. With an estimated net worth of $US 4.5 billion , Desmarais was ranked by Forbes as the 4th wealthiest person in Canada and 235th in the world.Desmarais also owns homes in Palm Beach, Florida and New York.He is CEO of the Power Corporation...
, Paul Desmarais, Jr.
Paul Desmarais, Jr.
Paul Desmarais, Jr., OC, OQ is a Canadian businessman in his hometown of Montreal.He is the eldest son of Paul Desmarais, Sr. Currently he is the chairman and co-chief executive officer of Power Corporation of Canada....
, Anthony Graham, Robert Gratton, Don Mazankowski
Don Mazankowski
Donald Frank "Don" Mazankowski, PC, OC, AOE is a Canadian politician who served as a cabinet minister under Prime Ministers Joe Clark and Brian Mulroney. He was also Deputy Prime Minister under Mulroney....
, Jerry Nickerson, James Nininger, Robert Parizeau, Michel Plessis-Bélair, John Rae, Amaury-Daniel de Seze, and Emöke Szathmáry
Emöke Szathmáry
Emőke J.E. Szathmáry, CM, OM, FRSC was the 10th President and Vice-Chancellor of The University of Manitoba. She held this position 1996 to 2008. Dr.Szathmary was trained as a physical anthropologist, specializing in the study of human genetics. Dr...
.
Directors Emeritus of the company are: James Burns and Michael Pitfield
Michael Pitfield
Peter Michael Pitfield, PC, CVO is a former Canadian Senator and senior civil servant.He is the youngest son of the late Canadian financier Ward C. Pitfield and the late Grace MacDougall Pitfield. His brother, Ward C...
.
UN Oil-for-Food Scandal
A U.S. investigation into the UN Oil-for-Food scandal determined that Power Corporation had extensive connections to French bank BNP ParibasBNP Paribas
BNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger...
, which was selected in 1996 to broker the Oil-for-Food program. Power owned a stake in Paribas through its subsidiary Pargesa Holding SA. Pargesa Holding SA’s investment portfolio also includes Imerys
Imerys
Imerys is a French multinational company. It is a constituent of the CAC Mid 60 index.-History:The Company was founded in 1880 and for many years was known as Imetal....
, a mining entity majority owned by the Desmarais family and Belgian tycoon Albert Frère
Albert Frère
Albert, Baron Frère is a Belgian businessman and the richest man in Belgium....
.
The Desmarais family and Frère are also the largest shareholders in oil company Total SA, France’s largest oil company.
Total was the subject of a formal investigation by the United Nations
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
in February 2010 for bribery charges concerning oil deliveries from Iraq
Iraq
Iraq ; officially the Republic of Iraq is a country in Western Asia spanning most of the northwestern end of the Zagros mountain range, the eastern part of the Syrian Desert and the northern part of the Arabian Desert....
during the rule of dictator Saddam Hussein
Saddam Hussein
Saddam Hussein Abd al-Majid al-Tikriti was the fifth President of Iraq, serving in this capacity from 16 July 1979 until 9 April 2003...
.
Politics
The company is controlled by Paul Desmarais, Sr.Paul Desmarais
Paul Desmarais, Sr., is a Canadian financier in Montreal. With an estimated net worth of $US 4.5 billion , Desmarais was ranked by Forbes as the 4th wealthiest person in Canada and 235th in the world.Desmarais also owns homes in Palm Beach, Florida and New York.He is CEO of the Power Corporation...
. Paul Desmarais, Jr. is one of thirty members of the North American Competitiveness Council
North American Competitiveness Council
The North American Competitiveness Council is an official tri-national working group of the Security and Prosperity Partnership of North America . It was created at the second summit of the SPP in Cancún, Quintana Roo, Mexico, in March 2006...
, a group whose advice directs the policies of Security and Prosperity Partnership of North America
Security and Prosperity Partnership of North America
The Security and Prosperity Partnership of North America was a region-level dialogue with the stated purpose of providing greater cooperation on security and economic issues. The Partnership was founded in Waco, Texas on March 23, 2005 by Paul Martin, Prime Minister of Canada, Vicente Fox,...
(SPP). Additionally, the company has long been a close ally of the Liberal Party of Canada
Liberal Party of Canada
The Liberal Party of Canada , colloquially known as the Grits, is the oldest federally registered party in Canada. In the conventional political spectrum, the party sits between the centre and the centre-left. Historically the Liberal Party has positioned itself to the left of the Conservative...
, although former or current members of other Canadian political parties have also worked for Power Corp. A brief summary of the connections between Power Corp. and those with political power in Canada is below.
- Former Prime Minister of Canada, Paul MartinPaul MartinPaul Edgar Philippe Martin, PC , also known as Paul Martin, Jr. is a Canadian politician who was the 21st Prime Minister of Canada, as well as leader of the Liberal Party of Canada....
, was hired in the 1960s to work for Paul Desmarais, Sr. by Maurice StrongMaurice StrongMaurice F. Strong, PC, CC, OM, FRSC is a Canadian entrepreneur and a former under-secretary general of the United Nations. Strong's first name is pronounced "Mor'ris" with the accent on the first syllable....
. Martin became President of Canada Steamship Lines, a subsidiary of Power Corp., and in 1981 Desmarais sold the company to Martin and a partner. Martin went on to make his personal fortune as an owner of CSL.
- Former Prime Minister of CanadaPrime Minister of CanadaThe Prime Minister of Canada is the primary minister of the Crown, chairman of the Cabinet, and thus head of government for Canada, charged with advising the Canadian monarch or viceroy on the exercise of the executive powers vested in them by the constitution...
Jean ChrétienJean ChrétienJoseph Jacques Jean Chrétien , known commonly as Jean Chrétien is a former Canadian politician who was the 20th Prime Minister of Canada. He served in the position for over ten years, from November 4, 1993 to December 12, 2003....
sat on the board of Power Corp. subsidiary Consolidated Bathurst in the late 1980s before he became the leader of the Liberal Party of Canada. Chrétien's daughter FranceFrance Chrétien DesmaraisFrance Chrétien Desmarais is a Canadian lawyer and businesswoman. She is the daughter of Jean Chrétien, twentieth Prime Minister of Canada. She is married to André Desmarais, president of the Montreal-based Power Corporation of Canada, and son of Paul Desmarais, a wealthy businessman. They have...
is married to the son of Paul Desmarais, Sr., AndréAndré DesmaraisAndré Desmarais, OC, OQ is a Canadian businessman, whose hometown is Montreal, Quebec.He is one of two sons of Paul Desmarais, Sr. He is currently the president and co-chief executive officer of his father's founding company the Power Corporation, based in Montreal, Canada...
. Also Chrétien's chief of staff Eddie Goldenberg worked in the past for Power Corp.
- Former Prime Minister of Canada, the late Pierre TrudeauPierre TrudeauJoseph Philippe Pierre Yves Elliott Trudeau, , usually known as Pierre Trudeau or Pierre Elliott Trudeau, was the 15th Prime Minister of Canada from April 20, 1968 to June 4, 1979, and again from March 3, 1980 to June 30, 1984.Trudeau began his political career campaigning for socialist ideals,...
, served in the mid-1990s on Power Corp.'s international advisory board. Trudeau's assistant Ted Johnson also worked for Power Corp. During the Trudeau administration Michael PitfieldMichael PitfieldPeter Michael Pitfield, PC, CVO is a former Canadian Senator and senior civil servant.He is the youngest son of the late Canadian financier Ward C. Pitfield and the late Grace MacDougall Pitfield. His brother, Ward C...
held a variety of positions in government but during his time in the private sector he was at one time a Vice-Chairman of Power Corp. and is currently listed as a Director Emeritus.
- Former Prime Minister of Canada Brian MulroneyBrian MulroneyMartin Brian Mulroney, was the 18th Prime Minister of Canada from September 17, 1984, to June 25, 1993 and was leader of the Progressive Conservative Party of Canada from 1983 to 1993. His tenure as Prime Minister was marked by the introduction of major economic reforms, such as the Canada-U.S...
also has a relationship with Power Corporation. Mulroney's friend Ian MacDonald described Desmarais as “Mulroney’s mentor in the business world,” and it is believed that Mulroney has done legal work for Power Corp. since the end of his term as Prime Minister. Additionally, former Mulroney Minister of TransportMinister of Transport (Canada)The Minister of Transport is the Minister of the Crown in the Canadian Cabinet who is responsible for overseeing the federal government's transportation regulatory and development department, Transport Canada...
Don MazankowskiDon MazankowskiDonald Frank "Don" Mazankowski, PC, OC, AOE is a Canadian politician who served as a cabinet minister under Prime Ministers Joe Clark and Brian Mulroney. He was also Deputy Prime Minister under Mulroney....
is currently Power Corp.'s company director.
- Former Premiers of OntarioPremier of OntarioThe Premier of Ontario is the first Minister of the Crown for the Canadian province of Ontario. The Premier is appointed as the province's head of government by the Lieutenant Governor of Ontario, and presides over the Executive council, or Cabinet. The Executive Council Act The Premier of Ontario...
William DavisBill DavisWilliam Grenville "Bill" Davis, was the 18th Premier of Ontario, Canada, from 1971 to 1985. Davis was first elected as the MPP for Peel in the 1959 provincial election where he was a backbencher in Leslie Frost's government. Under John Robarts, he was a cabinet minister overseeing the education...
and John RobartsJohn RobartsJohn Parmenter Robarts, PC, CC, QC was a Canadian lawyer and statesman, and the 17th Premier of Ontario.-Early life:...
of the Progressive ConservativesProgressive Conservative Party of OntarioThe Progressive Conservative Party of Ontario , is a right-of-centre political party in Ontario, Canada. The party was known for many years as "Ontario's natural governing party." It has ruled the province for 80 of the years since Confederation, including an uninterrupted run from 1943 to 1985...
have both sat on Power Corp.'s national advisory board. John Rae, the brother of former NDP Premier Bob RaeBob RaeRobert Keith "Bob" Rae, PC, OC, OOnt, QC, MP is a Canadian politician. He is the Member of Parliament for Toronto Centre and interim leader of the Liberal Party of Canada....
, currently serves as Power Corp.'s Executive Vice President.
- Former Premier of QuebecPremier of QuebecThe Premier of Quebec is the first minister of the Canadian province of Quebec. The Premier is the province's head of government and his title is Premier and President of the Executive Council....
Premier Daniel Johnson, Jr. worked for Power Corp. from 1973 to 1981 and in the last three years of this term was a Vice-President in the company.
- Former member of the Liberal Party of Canada Maurice StrongMaurice StrongMaurice F. Strong, PC, CC, OM, FRSC is a Canadian entrepreneur and a former under-secretary general of the United Nations. Strong's first name is pronounced "Mor'ris" with the accent on the first syllable....
became President of Power Corp. by his mid-thirties. He had a role in the creation of the Canadian International Development AgencyCanadian International Development AgencyThe Canadian International Development Agency was formed in 1968 by the Canadian government. CIDA administers foreign aid programs in developing countries, and operates in partnership with other Canadian organizations in the public and private sectors as well as other international organizations...
and in 1976 he was appointed to run Petro-CanadaPetro-CanadaPetro-Canada was a crown corporation of Canada in the field of oil and natural gas. It was headquartered in the Petro-Canada Centre in Calgary, Alberta. In August, 2009, Petro-Canada merged with Suncor Energy, a deal in which Suncor investors received approximately 60 per cent ownership of the...
. He later worked for the United NationsUnited NationsThe United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
.
- Power Corp.'s international advisory board has featured individuals such as former German Chancellor Helmut SchmidtHelmut SchmidtHelmut Heinrich Waldemar Schmidt is a German Social Democratic politician who served as Chancellor of West Germany from 1974 to 1982. Prior to becoming chancellor, he had served as Minister of Defence and Minister of Finance. He had also served briefly as Minister of Economics and as acting...
, former oilPetroleumPetroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
minister of Saudi ArabiaSaudi ArabiaThe Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
Sheikh Ahmed Zaki YamaniAhmed Zaki YamaniAhmed Zaki Yamani is a Saudi Arabian politician who was Minister of Oil and Mineral Resources from 1962 until 1986 for his country, and a minister in OPEC for 25 years....
, former head of the US Federal Reserve Board Paul VolckerPaul VolckerPaul Adolph Volcker, Jr. is an American economist. He was the Chairman of the Federal Reserve under United States Presidents Jimmy Carter and Ronald Reagan from August 1979 to August 1987. He is widely credited with ending the high levels of inflation seen in the United States in the 1970s and...
, and the previously mentioned former Prime Minister of Canada Pierre TrudeauPierre TrudeauJoseph Philippe Pierre Yves Elliott Trudeau, , usually known as Pierre Trudeau or Pierre Elliott Trudeau, was the 15th Prime Minister of Canada from April 20, 1968 to June 4, 1979, and again from March 3, 1980 to June 30, 1984.Trudeau began his political career campaigning for socialist ideals,...
.
- The former Caisse de dépôt et placement du QuébecCaisse de dépôt et placement du QuébecThe Caisse de dépôt et placement du Québec manages public pension plans in the Canadian province of Quebec. It was founded in 1965 by an act of the National Assembly...
's President and CEO Henri-Paul Rousseau became the vice-chairman of the company and a member of the board of directors of Power Corporation.
Assets
- Gesca Ltée
- La Presse
- Le SoleilLe SoleilLe Soleil is a French-language daily newspaper in Quebec City, Quebec. It was founded on December 28, 1896 and is published in compact format since April 2006...
- La Voix de l'Est
- La TribuneLa TribuneLa Tribune is a French financial newspaper that was founded in 1985. The paper is in tabloid format and has a circulation of around 78,000.- External links :**...
- Le NouvellisteLe NouvellisteLe Nouvelliste is the name of:*Le Nouvelliste , a Haitian international newspaper, based in Port-au-Prince, Haiti*Le Nouvelliste , Mauricien regional newspaper, based in Trois-Rivieres, Quebec....
, acquired in 1968 - Le DroitLe DroitLe Droit is a Canadian daily newspaper, published in Ottawa, Canada. Initially established and owned by the Missionary Oblates of Mary Immaculate, the paper was has been published by Gesca since 2000.-History:...
- Le QuotidienLe QuotidienLe Quotidien is a daily newspaper in Saguenay, Quebec. The paper is owned by Power Corporation's Gesca division.-External links:*...
- Cyberpresse
- Power Financial Corporation, who owns
- 50% of Parjointco N.V.Parjointco N.V.Parjointco N.V. is a Dutch holding company owned in equal parts by the Dutch holding company Agesca Nederland and by Power Financial Corporation ....
, who owns - 61.4% of assets of Pargesa Holding S.A.Pargesa Holding S.A.Pargesa Holding S.A. of Geneva, Switzerland holds significant positions in two large companies based in Europe. In accordance with a 1990 agreement, Power Corporation of Canada and the Frère-Bourgeois/CNP Groups jointly control the company through the Dutch holding company Parjointco NV...
, who owns - 50.2% of assets of Groupe Bruxelles LambertGroupe Bruxelles LambertGroupe Bruxelles Lambert is a Belgian industrial holding company. It is one of the ten biggest Belgian companies, and part of the BEL20. It has been listed in Brussels since 1956.Shareholdings as of 31 December 2010 were:...
- 42.5% of assets of ImerysImerysImerys is a French multinational company. It is a constituent of the CAC Mid 60 index.-History:The Company was founded in 1880 and for many years was known as Imetal....
(GBL has another 20.7%) - Great-West Lifeco Inc.
- Great-West, compagnie d'assurance-vie
- London Life, Compagnie d'Assurance-Vie
- La Compagnie d'Assurance du Canada sur la Vie, (la Canada-Vie)
- IGM Financial Inc.
- Mackenzie Financial Corporation
Administration
In 2005, the board consisted of : Laurent Dassault, André DesmaraisAndré Desmarais
André Desmarais, OC, OQ is a Canadian businessman, whose hometown is Montreal, Quebec.He is one of two sons of Paul Desmarais, Sr. He is currently the president and co-chief executive officer of his father's founding company the Power Corporation, based in Montreal, Canada...
, Paul Desmarais, Sr., Paul Desmarais, Jr.
Paul Desmarais, Jr.
Paul Desmarais, Jr., OC, OQ is a Canadian businessman in his hometown of Montreal.He is the eldest son of Paul Desmarais, Sr. Currently he is the chairman and co-chief executive officer of Power Corporation of Canada....
, Anthony Graham, Don Mazankowski
Don Mazankowski
Donald Frank "Don" Mazankowski, PC, OC, AOE is a Canadian politician who served as a cabinet minister under Prime Ministers Joe Clark and Brian Mulroney. He was also Deputy Prime Minister under Mulroney....
, Jerry Nickerson, James Nininger, Robert Parizeau, Michel Plessis-Bélair, John A. Rae, Amaury-Daniel de Seze and Emöke Szathmáry
Emöke Szathmáry
Emőke J.E. Szathmáry, CM, OM, FRSC was the 10th President and Vice-Chancellor of The University of Manitoba. She held this position 1996 to 2008. Dr.Szathmary was trained as a physical anthropologist, specializing in the study of human genetics. Dr...
.