Jean Gattuso Appointed Chair of the Board of Directors of Letko Brosseau & Associates Inc.

MONTREAL, Sept. 3, 2024 /PRNewswire/ - Letko, Brosseau & Associates Inc. ("Letko Brosseau") is pleased to announce the appointment of Jean Gattuso as the next chair of the board of directors. The appointment is effective beginning January 1, 2025. Mr. Gattuso joined the board in December 2022 and brings his distinctive experience and leadership including 12 years as President and COO of Lassonde Industries during which time he oversaw the company's expansion in Canada and the U.S.

Mr. Gattuso sat on the board of Investissement Québec, the Cercle des présidents du Québec, and co‑chaired the National Supply Chain Task Force / Transport Canada. In 2001, Mr. Gattuso co-founded the Conseil de la transformation alimentaire du Québec (CTAQ), where he served as Chairman of the Board for several years. Mr. Gattuso holds a Commerce degree from McGill University and an MBA from the École des sciences de la gestion at l'Université du Québec à Montréal.

"I am delighted to welcome Jean as my successor. Jean brings a wealth of leadership experience and business acumen. He has all the skills and rigor needed to guide Letko Brosseau's management in all their most significant decisions" said Thomas Birks, Chair of Letko Brosseau.

"As chair, Jean Gattuso's exceptional skills and decades of knowledge leave me confident he will guide and support the firm in its mission to manage our clients' wealth with a focus on industry-leading independent research and sound, principled investment strategies," said Daniel Brosseau, President and Co-Founder of Letko Brosseau.

Since January 1988, Letko Brosseau has outperformed the industry benchmarks, generating compound returns of 10.9% for all assets under management, compared with 8.3% for the benchmark, and equity returns of 12.8%, outperforming the benchmark of 8.4%. Over that time, more than $35 billion in gains on investments have been generated for its clients.

Beyond its proven approach focusing on in-depth analysis of the companies it invests in, Letko Brosseau believes greater leadership is needed – system-wide – to help ensure Canadian companies are supported when decisions are made on investments.

"I am grateful for the opportunity to serve as chair of Letko Brosseau board where I will remain focused on ensuring world-class good governance and on supporting its mission to provide industry-leading knowledge-based investment strategies to safeguard clients' investments," said Jean Gattuso.

Mr. Gattuso takes over as chair following the distinguished tenure of Thomas Birks who has diligently and dutifully supported the company and the board since 2017. On behalf of the company and the board, Peter Letko, Co-Founder and Director of Letko Brosseau, offers deep thanks to Thomas Birks, who, as chair, oversaw the transition to an independent board. Mr. Birks leaves a lasting and meaningful legacy.

ABOUT LETKO, BROSSEAU & ASSOCIATES INC. — www.lba.ca

Letko Brosseau is an independent investment manager founded in 1987, with offices in Montreal, Toronto and Calgary. The firm manages assets for both institutional investors and private clients.  

Notes

Performance numbers above are annualized and presented in Canadian dollars, net of actual management fees paid by clients, and do not refer to any composite. Segment returns exclude cash. The results are calculated by aggregating all assets and all equities, respectively, in LBA accounts from January 1, 1988 to July 31, 2024.

The benchmarks represent the weighted average of all clients' benchmarks. The Benchmark for all assets consists primarily of the FTSE Canada 91 Day T-Bill Total Return Index, FTSE Canada Universe Bond Total Return Index, S&P/TSX Composite Total Return Capped index and MSCI World Total Return Net Index. The benchmark for equity consists primarily of the S&P/TSX Composite Total Return Capped Index and MSCI World Total Return Net Index.

Past performance is not a guarantee of future returns. All investments pose the risk of loss and there is no guarantee that any of the benefits expressed herein will be achieved or realized.

SOURCE Letko, Brosseau & Associates Inc.