Sophie Brochu, the first woman to have held the position of President and CEO of Hydro-Québec, is resigning following less than three years at the helm of the state-owned company. She will therefore have completed one of the shortest terms since the 1970s.
Mme Brochu announced this morning to the president of the board of directors Jacynthe Côté that she will remain in office until April 11. Moreover, the two leaders will leave practically at the same time, since last month, Ms. Côté announced that she would not renew her mandate, which will end in May 2023.
In the fall, the media had reported that the current was difficult between Ms. Brochu, a respected leader in the business world, and the powerful Minister of Economy, Innovation and Energy Pierre Fitzgibbon.
On the day of the swearing-in of new ministers last October, Sophie Brochu had confirmed to her employees her intention to remain in office, while acknowledging that she had asked questions regarding governance. The formation of a committee chaired by François Legault, to ensure the collaboration of Minister Fitzgibbon and the CEO of Hydro had apparently favored the decision to remain in office.
During the holiday season, crisis management and difficult communications with Hydro had been pointed out by the mayors of certain municipalities affected by power outages that lasted several days from December 23.
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“I am deeply grateful to have had the chance to work for the advancement of our great Crown corporation, alongside a competent and committed team,” testified Mr.me Booklet by press release.
She took office in April 2020, in the midst of a pandemic, following several years at the head of Énergir.
“I felt challenged, I humbly thought that I might serve Quebec, which was then going through a turbulent period,” she adds.
The tumult linked to the pandemic being largely behind, she maintains that Hydro-Québec is now in a good position, with a strategic plan that charts the course of the energy transition and an “excellent” financial situation.
She mentions that the time has come for her to “pass the torch.” It is unclear what functions she will choose to occupy following her short stint at Hydro.
Hydro-Quebec’s board of directors must now recommend candidates for its succession to the Quebec government. The decision will be subject to a decision of the Council of Ministers.
“With her humanism, her qualities as a communicator and her vast experience in the energy sector, Sophie will leave a mark that will stand the test of time,” said
underlined the President of the Board of Hydro, Jacynthe Côté, who mentions her qualities as a unifier and praises the achievements of Sophie Brochu.
She cites the strategic plan, the dialogue initiated with the indigenous communities, the export contracts with the State of New York and the acquisition of hydroelectric power stations in the United States.
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