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Martel announces departure from Hydro-Quebec

After five years as president and chief executive officer, Éric Martel announced that he is leaving Hydro-Québec to become president and CEO of plane and train manufacturer Bombardier, starting April 6.

“I would like to offer my sincere thanks to Éric Martel. Under his leadership, customer satisfaction improved significantly and the company adopted an approach focused on transparency,” said Jacynthe Côté, chair of Hydro-Québec’s Board of Directors. “He also allowed Hydro-Québec to adopt a clear vision in the context of the current energy transition. With his deep humanity, he left a mark on our organization. He will now continue to contribute to Québec’s economic development.”

The board of directors appointed Jean-Hugues Lafleur as interim president and CEO, starting March 12. Martel will stay at Hydro-Québec until assuming his new role at Bombardier, and he will ensure a smooth transition with the management committee.

Lafleur has been executive vice president and chief financial and risk officer of Hydro-Québec since April 2018. He joined Hydro-Québec in the early 1990s and became manager – financial risk control in 1996, then went on to serve as director – financial markets and assistant treasurer in 1998. He was appointed corporate treasurer in 2007 and was promoted to vice president – financing, treasury and pension fund the following year, a position he held until 2018.

The board of directors said it will immediately start the process to find the best candidate. A recruitment firm has been selected to support the board in its search.