Michael Sabia, president and chief executive of the Caisse de depot et placement...
), whose transportation division is facing performance problems with its contracts in New York and Switzerland.
Any number of potential candidates from across Canada, rather than just Quebec, could be in the running to succeed Sabia, according to Yvan Allaire, executive chair of the board at the Institute for Governance, and a former Caisse board member. Under Sabia’s leadership, Caisse produced 9.9% annualized returns over the past decade, and nearly tripled its assets, CDPQ said. The returns compare with 11.1% at the Canada Pension Plan Investment Board, the country’s largest pension fund, and 10.1% at Ontario Teachers’ Pension Plan, the third biggest.
Sabia’s compensation in 2018 was C$3.8 million, compared with C$4.6 million for Mark Machin, his counterpart at the CPPIB and C$4.9 million for Ron Mock at Ontario Teachers.
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