|By Marketwired .||
|March 9, 2014 01:00 PM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 03/09/14 -- Quebecor announces that, following his decision to enter politics, Pierre Karl Peladeau resigned this morning as Vice Chairman and member of the Board of Directors of Quebecor and Chairman and member of the Boards of Directors of Quebecor Media and TVA Group. Quebecor also confirms that Mr. Peladeau has promised to place his financial interests in the Corporation in a blind trust or under a blind management agreement if he is elected to Quebec's National Assembly on April 7. As of today, Mr. Peladeau will no longer take part in any decisions respecting the Corporation's daily or strategic management.
Francoise Bertrand, Chairperson of the Board of Quebecor, and the Right Honourable Brian Mulroney, Vice Chairman of the Board of Quebecor, issued the following statement: "Quebecor employs 12,000 people in Quebec and nearly 16,000 across Canada. As one of the Canada's largest private employers, our priority is to create shareholder value."
"We will continue managing Quebecor in the interests of all shareholders, including the Caisse de depot et placement du Quebec," said Robert Depatie, President and CEO of Quebecor and Quebecor Media. "Quebecor has always been responsive to its customers' needs and that will remain our priority. Through our strong brands, such as Videotron, TVA, Le Journal de Quebec, Le Journal de Montreal, Sun Media, Archambault and many others, we will continue delivering the best possible customer experience."
Finally, Quebecor management wishes to stress that the newsrooms of its media properties will continue to operate fully independently and to defend the public interest. Coverage of the current Quebec provincial election campaign will continue to be fair and impartial towards all political parties and candidates.
Quebecor, a Canadian telecommunications, entertainment and news media leader, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Quebecor (TSX: QBR.A, QBR.B) is firmly based in Quebec. It holds a 75.36% interest in Quebecor Media, which employs nearly 16,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports people working with more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.
Visit our website: www.quebecor.com
Follow us on Twitter: www.twitter.com/QuebecorMedia
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