New leadership for Desjardins 

Montreal, May 16, 2024 – Louis Babineau has been elected Chair of the Desjardins Group Board of Directors. This was the first election under Desjardins's new governance model, which came into effect on March 23, 2024, following its annual general meeting (AGM). At the March 2023 AGM, caisse delegates approved the decision to separate the role of Chair of the Board from the role of President and CEO of Desjardins. These roles had been merged for close to 30 years.

The Desjardins Group Board of Directors is firmly convinced that Louis Babineau will excel in handling the responsibilities of his new role. Louis has been a director of the Caisse Desjardins de Sainte-Foy since 2013 and has been a member of the Desjardins Group Board of Directors since 2016. He serves as Chair of the Board of Desjardins General Insurance Group since 2021 and has over 20 years of experience in governance and project management. Louis is a professor at Université de Québec à Rimouski and holds a PhD in business administration, as well as two master's degrees—one in international relations and another in project management.

As planned, the new Desjardins Group leadership structure that was adopted at the March 2023 AGM came into effect during the March 2024 AGM. 

It involves separating the roles and responsibilities of the board chair from those of the president and CEO. 

Louis Babineau is the first board chair under this new model. He will ensure that board fulfills its role and responsibilities independently from upper management, while acting as a liaison between the board and executives.

Guy Cormier will continue to act as president and CEO until March 2026 at the latest, as announced by the board. He will continue to lead and oversee Desjardins Group with the full powers granted to the president and CEO. When this term is ended, Guy Cormier will not be eligible for another, as he had already held both roles from March 2016 to March 2024.

The Desjardins Board of Directors includes 19 members with complementary skills from diverse backgrounds. Twelve board members are elected from the caisse network boards and 6 members are co-opted from outside the caisse network, plus the CEO.

The following board members were elected, re-elected or had their terms renewed:

Doryne is an expert in digital innovation, strategic vision and corporate governance. As the president and founder of a corporate strategy and advisory firm, she has a wealth of high-level experience, including in IT and software solutions for the public sector.

Ms. Sarrazin-Sullivan provides valuable insights into sustainable architecture and responsible finance. She is an architect and an entrepreneur, as well as an accredited green building design and construction professional.

Dominique is an expert in information technology and cybersecurity. He's the co-founder, president and CEO of one of the world's leading vendors of software-defined networking and accelerated cybersecurity solutions. He has an MBA, as well as bachelor's and master's degrees in electrical engineering.

Dinah Morency was elected to the Desjardins Board of Ethics and Professional Conduct, a body dedicated to the oversight of Desjardins's ethics and professional conduct. 

She advises the board on matters of applied ethics. Dinah has a bachelor's degree in accounting and specializes in international taxation and collections.

Desjardins Group is proud of these directors, who are committed to applying its values and fulfilling its mission.