I flagged up on March 8th the election which was going on at the Canadian financial cooperative federation Desjardins to appoint their new President and CEO. It was, as I mentioned, a three-horse race.
The decision taken last Saturday by the 256-strong electoral college was to give the post to one of the two internal candidates. He is Guy Cormier, 46, who has been at Desjardins since his early twenties, starting off as a manager at several of the federated credit unions (caisses) and most recently being a Senior Vice President of Desjardins under Monique Leroux’s leadership.
Under Desjardins rules, his term of office is for four years, and he can then stand for election for a further term – but only for one more term. Monique Leroux, elected ICA President last November, would in any case have completed her term this year.