Ottawa, March 23, 2016 – Co-operatives and Mutuals Canada (CMC) congratulates Guy Cormier on his election as Desjardins Group’s new Chair of the Board, President and CEO.

As the Senior Vice-President of the Desjardins Co-operative Network, Mr. Cormier’s election by the Electoral College signals a seamless transition for the Desjardins Group.  Mr. Cormier is 46 and has been with Desjardins since 1992, when he started as a business account manager and a general manager at several caisses. Between 2009 and 2012, he held the title of Vice-President of Co-operative Network Finance prior to being appointed Senior Vice-President of the Co-operative Network in April 2012.

“I am deeply honoured to have been selected from such a talented group of candidates. I want to commend them for what they brought to the democratic process. Their contributions have helped Desjardins take yet another step forward,” said Mr. Cormier. He also thanked the Electoral College for placing their trust in him, and Monique F. Leroux for her leadership over the last eight years “to whom we owe a great deal” he concluded.

CMC looks forward to the continued development of Desjardins and of the Canadian co‑operative movement under Mr. Cormier’s leadership. Desjardins is an ardent supporter of the co-operative sector in Quebec, Canada and internationally. We look forward to Mr. Cormier co-hosting of the 3rd International Summit of Co-operatives in October 2016, alongside International Co-operative Alliance (ICA) President Monique F. Leroux.

CMC is pleased to continue to work on the Canadian and international co-operative development with Mme Leroux in her new role as ICA President. Mme Leroux will shift to her duties as ICA President in a full time capacity once M. Cormier assumes the Presidency of Desjardins on April 9.