Appointment of Chief Financial Officer

    MONTREAL, Jan. 9 /PRNewswire-FirstCall/ - Power Corporation of Canada
 announces that its Board of Directors has approved the appointment of Mr.
 Philip K. Ryan as Executive Vice-President and Chief Financial Officer.
 
     Mr. Ryan has been employed for 22 years with Credit Suisse Group in
 financial management roles and in investment banking to financial
 institutions, including serving as Chief Financial Officer of Credit Suisse
 Group.
 
     Mr. Michel Plessis-Belair will retire as Chief Financial Officer,
 having passed the Corporation's normal age of retirement. He will continue
 to serve the Power group as Vice-Chairman of the Board of Directors of
 Power Corporation of Canada. He will also continue as a Director of Power
 Financial Corporation and certain affiliated companies.
 
     Mr. Plessis-Belair joined Power Corporation in 1986 as Vice-President,
 Finance and Administration. He was named Senior Vice-President, Finance and
 Administration in 1986, Executive Vice-President and Chief Financial
 Officer in 1991, and Vice-Chairman and Chief Financial Officer in 1996.
 
     Mr. Ryan will also join Power Financial Corporation as Executive
 Vice-President and Chief Financial Officer.
 
     These executive changes are expected to take effect prior to January
 31, 2008.
 
     Power Corporation is a diversified international management and holding
 company with interests in the financial services industry in North America
 and Europe. Through affiliates, Power Corporation holds diversified
 industrial interests in Europe and China.
 
     Forward-looking Statements
 
     --------------------------
 
     Certain statements in this news release, other than statements of
 historical fact, are forward-looking statements based on certain
 assumptions and reflect the Corporation's or its subsidiaries' or
 affiliates' current expectations. These statements may include, without
 limitation, statements regarding the operations, business, financial
 condition, priorities, ongoing objectives, strategies and outlook of Power
 Corporation, its subsidiaries or affiliates for the current fiscal year and
 subsequent periods. Forward-looking statements include statements that are
 predictive in nature, depend upon or refer to future events or conditions,
 or include words such as "expects", "anticipates", "plans", "believes",
 "estimates", "intends", "targets", "projects", "forecasts" or negative
 versions thereof and other similar expressions, or future or conditional
 verbs such as "may", "will", "should", "would" and "could".
 
     This information is based upon certain material factors or assumptions
 that were applied in drawing a conclusion or making a forecast or
 projection as reflected in the forward-looking statements, including the
 perception of historical trends, current conditions and expected future
 developments, as well as other factors that are believed to be appropriate
 in the circumstances.
 
     By its nature, this information is subject to inherent risks and
 uncertainties that may be general or specific. A variety of material
 factors, many of which are beyond the Corporation's, its subsidiaries' and
 affiliates' control, affect the operations, performance and results of the
 Corporation's, its subsidiaries and affiliates, and their business, and
 could cause actual results to differ materially from current expectations
 of estimated or anticipated events or results. These factors include, but
 are not limited to: the impact or unanticipated impact of general economic,
 political and market factors in North America and internationally, interest
 and foreign exchange rates, global equity and capital markets, management
 of market liquidity and funding risks, changes in accounting policies and
 methods used to report financial condition, including uncertainties
 associated with critical accounting assumptions and estimates, the effect
 of applying future accounting changes, business competition, technological
 change, changes in government regulation and legislation, changes in tax
 laws, unexpected judicial or regulatory proceedings, catastrophic events,
 the Corporation's, its subsidiaries' or affiliates' ability to complete
 strategic transactions and integrate acquisitions, and the Corporation's or
 its subsidiaries' or its affiliates' success in anticipating and managing
 the foregoing risks.
 
     The reader is cautioned that the foregoing list of factors is not
 exhaustive of the factors that may affect any of the Corporation's, its
 subsidiaries' and affiliates' forward-looking statements. The reader is
 also cautioned to consider these and other factors carefully and not to put
 undue reliance on forward-looking statements.
 
     Other than as specifically required by law, the Corporation undertakes
 no obligation to update any forward-looking statement to reflect events or
 circumstances after the date on which such statement is made, or to reflect
 the occurrence of unanticipated events, whether as a result of new
 information, future events or results, or otherwise.
 
     Additional information about the risks and uncertainties of the
 Corporation's business is provided in its disclosure materials, including
 its most recent Management's Discussion and Analysis of Operating Results
 and Annual Information Form, filed with the securities regulatory
 authorities in Canada, available at www.sedar.com.
 
 
 

SOURCE POWER CORPORATION OF CANADA

More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.