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Quebec pension fund may protest CN’s lack of French-speaking board members

By | May 16, 2022

News report says Caisse de depot et placement du Quebec could withhold votes at May 20 board meeting

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Canadian National logoMONTREAL — Quebec’s pension fund may withhold support from some members of Canadian National’s board of directors to protest the lack of French-speaking board members, Reuters reports.

Caisse de depot et placement du Quebec — CN’s 10th-largest shareholder — is considering the move, a source told the news service, after previously criticizing a move that would have left the railroad without a native French speaker. The board said in April it would appoint a francophone, Quebec-based board member to replace the departing Jean Charest, a bilingual former provincial premier.

Caisse de depot — the entity which driving construction of Montreal’s REM light rail project — and CN declined comment.

The lack of a francophone board member was called “unacceptable” last week by Canada’s Transport Minister, Omar Alghabra [see “CN criticized …,” Trains News Wire, May 11, 2022].

2 thoughts on “Quebec pension fund may protest CN’s lack of French-speaking board members

  1. One would think that Caisse de depot et placement du Quebec’s ‘s concern would be return on investment. Then again, no. Canada is almost as poorly governmed as the United States.

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