Michael Sabia departs from Hydro-Québec to join Mark Carney's enterprise.
Stepping Down: Michael Sabia Leaves Hydro-Québec for Ottawa
After less than two years at the helm, Hydro-Québec CEO Michael Sabia is stepping down. He'll be departing his post at the Crown corporation on July 4th to join Mark Carney's team as Clerk of the Privy Council and Secretary to the Cabinet of Canada.
In an email to Hydro-Québeckers, Sabia fontly acknowledged the difficulty of his decision. Highlighting the towering challenges facing Canada, such as economic woes, US-Canada relations, and the urgent need to realize mega-projects, he explained his departure. "Given these extraordinary circumstances," he wrote, "I've accepted Prime Minister Carney's invitation to tackle these challenges head-on."
Sabia's announcement prompted a swift response from François Legault. The Quebec premier praised Sabia's partnership throughout their energy vision and looked back on a legacy that includes a historic agreement with Newfoundland and Labrador, and an ambitious 10-year plan that projects up to $185 billion of investments for the Crown corporation. Overseeing the largest project in Hydro-Québec's history, the Plan 2035, Christine Fréchette, Minister of Economy, Innovation, and Energy, also expressed gratitude.
In the Prime Minister's office, Sabia was lauded for his diverse experience in both the public and private sectors. Offering a glimpse into his new role, they stated that he'd be advising the Prime Minister objectively and non-partisanly and ensuring effective management of the federal public service.
By July 7th, Michale Sabia will embark on his new journey, leaving behind a powerhouse at the helm of Hydro-Québec. The untapped challenges ahead are becoming the legacy of the next CEO!
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Unexpected Departure
Assuming leadership at Hydro-Québec since 2023, Michael Sabia now joins a list that includes his predecessor, Sophie Brochu, who announced her resignation in 2023. Speculations were rife about strained relations with then Minister of Energy, Pierre Fitzgibbon but were vehemently denied by Brochu[1].
Born in Ontario, Sabia rose to fame as Deputy Minister of Finance of Canada. But it was as President and CEO of the Caisse de dépôt et placement du Québec that his reach extended to the public eye. He steered the Caisse's assets from $120.1 billion to a colossal $326.7 billion over more than a decade[1].
Prior to his stint at Hydro-Québec, Sabia held key positions at Bell Canada and Canadian National, and the federal public service.
Moving Forward
As Hydro-Québec's board of directors prepares to recommend a potential successor for Sabia in the coming weeks to the Council of Ministers, the coming days could witness significant developments.
The pending departure of Sabia was revealed just four days after the veto of the Legault government's energy reform. The reform, criticized by the opposition and multiple environmental groups, intends to enable Hydro-Québec to expand its electricity production towards decarbonization.
The resignation of Sabia is also sparking heated debates within the political sphere. Opposition spokesperson for energy, Pascal Paradis, expressed concern, suggesting the CAQ government is being made a mockery of. The outcome of the negotiations with First Nations regarding the agreement struck in December 2024 or the Montreal substation construction debacle also lurk as additional challenges for the upcoming CEO.
Concurrently, unions representing thousands of Hydro-Québec employees carry on in their quest to secure new contract terms[1]. Meanwhile, with sabia's departure, the company will be navigating its next steps with an interim leadership team.
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- The impending departure of Hydro-Québec's CEO, Michael Sabia, has led to a wave of debates within the political sphere, with opposition spokesperson Pascal Paradis suggesting that the CAQ government is being made a mockery of due to the timing of Sabia's resignation.
- As the board of directors prepares to recommend a potential successor for Sabia, the coming days could witness significant developments at Hydro-Québec, including ongoing negotiations with First Nations and the Montreal substation construction debacle.
- Beyond Hydro-Québec, general news headlines include international conflicts such as Israel striking military and nuclear Iranian sites, as well as domestic policy matters like the launch date for the "Strong Canada" pass.
- Concurrently, while unions representing thousands of Hydro-Québec employees continue their quest to secure new contract terms, the company will navigate its next steps with an interim leadership team, a departure from the experienced hand of Michael Sabia who has also been involved in car accidents, crime-and-justice, and policy-and-legislation, notably during his tenure at Caisse de dépôt et placement du Québec and in the federal public service.
