André Desmarais

André Desmarais OC OQ (born October 26, 1956) is a Canadian businessman, whose hometown is Montreal, Quebec.

Early life

He is one of two sons of Paul Desmarais Sr. and Jacqueline (Maranger) Desmarais. Born in Ottawa, Ontario, he attended Lakefield College School in Ontario for two years, then Selwyn House School. Desmarais is a graduate of Concordia University in Montreal (BComm 78, LLD 07).

Career

André Desmarais is currently Deputy Chairman, President and Co-Chief Executive Officer of the company his father took control of in 1968, Power Corporation, based in Montreal, Quebec, Canada. He is also Executive Co-Chairman of Power Financial. Power Corporation is a diversified international management and holding company with interests in companies in the financial services, asset management, sustainable and renewable energy, and other business sectors. Through its European-based affiliate, the Pargesa group, Power Corporation holds significant positions in global industrial and services companies based in Europe:

• Imerys (mineral-based specialty solutions for industry)
• adidas (design and distribution of sportswear)
• SGS (testing, inspection and certification)
• Pernod Ricard (wines and spirits)
• LafargeHolcim (cement, aggregates and concrete)
• Umicore (materials technology and recycling of precious metals)
• Total (oil, gas and alternative energies)
• GEA (supplier of equipment and project management for a wide range of processing industries primarily in the food and beverage sectors)
• Ontex (disposable hygiene products)
• Parques (operation of regional leisure parks)

Power Corporation also has diversified interests in Asia.

Desmarais began his career at Campeau Corporation in 1979. From 1980 to 1981, he was Special Assistant to the Minister of Justice of Canada. Between 1981 and 1982, he was an institutional investment counsellor at Richardson Greenshields Ltd. In 1983, Desmarais returned to Power Corporation of Canada. In 1984, he was appointed President and Chief Operating Officer of Gesca ltée and Chairman and Chief Executive Officer of Power Broadcasting Inc., in 1988. In 1991, he became President and Chief Operating Officer of Power Corporation of Canada. In 1994, he was named Chairman of Power Pacific Corporation Limited; Director and Member of the Executive Committee of Power Corporation of Canada and Power Financial Corporation. In 1996, Desmarais was appointed President and Co-Chief Executive Officer of Power Corporation of Canada and Deputy Chairman of Power Financial Corporation. In May 2008, he was also appointed Deputy Chairman of Power Corporation of Canada and became Executive Co-Chairman of Power Financial Corporation.

Board memberships

• Power Corporation and Power Financial
• Great-West Lifeco Inc. and its major subsidiaries
• IGM Financial Inc. and its major subsidiaries
• Pargesa Holding SA

Professional memberships

• Member of the Canada China Business Council
• Member of The Business Council of Canada
• Member of The Trilateral Commission
• Member of the Chairman's Council of the Americas Society

Past engagements

Member of the Hong Kong Chief Executive's Council of International Advisers from 1998 to 2007.

Appointed in 2003 to the International Council of the JP Morgan Chase Bank until 2010.

Honours

- 2003: Named an officer of the Order of Canada

- 2009: Made an Officer of the National Order of Quebec

- Doctorate honoris causa from Concordia University, Université de Montréal and McGill University

Personal life

He married France Chrétien Desmarais, the daughter of former Prime Minister of Canada Jean Chrétien, on May 23, 1981. They have four children.

In August 2016, The Wall Street Journal mentions that André Desmarais and his brother Paul Jr. "are readying their 34-year-old sons (Olivier Desmarais and Paul Desmarais III) to take over Power Corp".

Philanthropy

Desmarais has played key roles in a number of fundraising campaigns, including those of the Montreal Museum of Fine Arts, the Montreal Heart Institute, Leucan, the Canadian Red Cross, the Canadian Cancer Society (The Daffodil Ball), and Centraide of Greater Montreal.

In November 2015, André Desmarais and his wife donated 3 million Canadian dollars to the Montreal Heart Institute.

Desmarais is also Chairman of the Foundation Baxter & Alma Ricard.