MONTREAL, June 23, 2014 /CNW Telbec/ - The Board of Directors of the Public Sector Pension Investment Board (PSP Investments) today announced that John Valentini, Executive Vice President, Chief Operating Officer (COO) and Chief Financial Officer (CFO), has been appointed Interim President & Chief Executive Officer (CEO) effective immediately, following the previously announced departure of Gordon J. Fyfe.
Mr. Valentini joined PSP Investments in 2005 as Senior Vice President and CFO, and was appointed Executive Vice President, COO and CFO in 2008. Prior to joining PSP Investments, he held CFO positions at BCE Emergis and Cognicase Inc. where he was also Executive Vice President, as well as senior positions at PricewaterhouseCoopers, Ernst & Young and CDP Capital.
"John has demonstrated his leadership capabilities as a key member of PSP Investments' senior management team for almost ten years and is well respected by all of our stakeholders," said Cheryl Barker, Interim Chair of the Board of Directors. "We are fortunate to be able to count on John and the other members of our strong senior management team as we begin our recruitment process for a permanent President & CEO."
The Board of Directors has established a search committee to immediately undertake an executive search to select and appoint a permanent President & CEO. Mr. Valentini's interim appointment will enable the Board to complete the executive search in due course and will facilitate a seamless transition once a new CEO is selected.
About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada's largest pension investment managers. Its highly‐skilled and dedicated team of professionals manages a diversified global portfolio including public equities, private equity, bonds and other fixed‐income securities, real estate, infrastructure and renewable resources. PSP Investments is a Crown corporation established to manage employer and employee net contributions since April 1, 2000, to the pension funds of the federal Public Service, the Canadian Forces and the Royal Canadian Mounted Police, and since March 1, 2007, of the Reserve Force. PSP Investments' head office is located in Ottawa, Ontario, and its principal business office is in Montréal, Québec. For more information about PSP Investments, visit www.investpsp.ca.
SOURCE PSP Investments