Pierre Karl Péladeau Stepping Down as Quebecor Chief

Pierre Karl Péladeau will step down as CEO of Quebecor Inc., and will be replaced by the head of the company’s cable division in an unexpected corporate shakeup at one of the country’s largest telecommunications and media companies.

Péladeau will continue to oversee the media operations as chairman of Quebecor Media and television service TVA. He will also be named vice-chairman of the board at Quebecor Inc., with Francoise Bertrand remaining as chairman.

The changes will be implemented at the company’s annual general meeting in May.