Caisse de dépôt et placement du Quebec (CDPQ) announced on Wednesday that Michael Sabia will remain at the helm of the public pension fund manager until 2021.
Sabia's mandate as president and CEO of the organization was renewed by CDPQ's board of directors and ratified by Quebec's provincial government. The move will allow Sabia to continue leading the pension fund manager through some key projects, according to Robert Tessier, chairman of the board of CDPQ.
"Over the course of his second mandate, Michael Sabia has continued to take [CDPQ] further by giving it the means to seize the best investment opportunities. Many of these important strategies are still being implemented," says Tessier in a statement.
"The globalization of the institution's activities, the continuous evolution of our portfolios to address current market challenges, as well as [CDPQ's involvement in the building of Montreal's new rapid transit system], just to name a few, are significant projects for la Caisse," he adds.
CDPQ's announcement notes that changes have not been made to Sabia's compensation.