(Montreal) The replacement for the replacement for the big boss of Hydro-Québec will be entitled to the same treatment as his predecessor for the six weeks he will be acting.
Chief financial officer Jean-Hugues Lafleur will receive an annual base salary of $575,000 in proportion to his time as interim president and CEO of the Crown corporation, under an order in council governmental.
For the period from June 21 to July 31 in which he holds this position, Mr. Lafleur will receive 28% higher compensation compared to his 2022 salary conditions, still in proportion to the time spent in the interim.
This replacement may be taken into account in determining his annual bonus, but it may not exceed 50% of the salary paid, specifies the decree.
Mr. Lafleur was called in to help after the surprise resignation of Pierre Despars on June 21.
The chief financial officer had already acted in 2020 between the management of Éric Martel and Sophie Brochu. He will lead Hydro-Québec until Michael Sabia takes office.
Mr. Sabia, for his part, will receive an annual salary of $639,000, not including performance bonuses, according to an executive order issued earlier.
The surprise resignation of Mr. Dépars added to a series of departures of senior executives from Hydro-Québec in a few months. President and CEO Sophie Brochu stepped down in April. The chair of the board of directors, Jacinthe Côté, also stepped down at the end of her term in May. In February, the executive vice-president and chief operating officer of Hydro-Québec, Éric Filion, accepted a position with Bombardier.
