News and Media

June 9, 2022

Shopify Shareholders ‘Approve’ Controversial “Founder Share” – With the Help of the Existing DCS

The 2022 Shopify AGM put the spotlight on two controversial theories for driving corporate success: the founder-CEO and multi-class share structures. When it went public in 2015, Shopify’s multi-class structure was fairly standard for an aspirational tech unicorn, if still unusual relative to capital markets as a whole. In recent years an increasing proportion of […]

May 2, 2022

Caisse bows out of Montreal light rail project

Canadian pension fund giant Caisse de dépôt et placement du Québec is stepping away from a proposed new $10-billion light rail line in eastern Montreal after encountering seemingly insurmountable difficulties with the design of the downtown portion of the project. Quebec and Montreal will take over leadership of the venture, the two governments said in […]

April 28, 2022

Guylaine Saucier named Chair of IGOPP’s Board of Directors

Montreal, April 28, 2022 — The Board of Directors of the Institute for governance (IGOPP) is pleased to announce that Guylaine Saucier has been appointed Chair of the Board. An active member of IGOPP’s Board since its inception in 2005, Ms. Saucier is an experienced corporate director who serves or has served on the boards […]

April 28, 2022

Patric Besner appointed IGOPP’s Vice-president

Montreal, April 28, 2022 — François Dauphin, President and CEO of the Institute for governance (IGOPP) is pleased to announce that Mtre Patric Besner has been appointed the Institute’s Vice-president. This strategic addition to IGOPP’s management will provide support to all of the Institute’s multidisciplinary activities and contribute significantly to the strategic diversification of training […]

April 11, 2022

Shopify shares rise as tech company announces 10-for-1 stock split

Shopify Inc. co-founder, chair and chief executive Tobias Lutke has three young children. The billionaire is willing to give up the opportunity to pass along the company to his offspring in exchange for maintaining control for as long he works at the online commerce giant. Ottawa-based Shopify, Canada’s largest tech company, announced on Monday it plans […]

December 5, 2021

Couche-Tard’s end of special voting rights will be closely watched by critics, defenders of dual-class share structures

n will set this week on the special voting rights held by the four founders of Alimentation Couche-Tard Inc., leaving the Canadian convenience store giant more exposed to investor pressure than ever before. Its fate will be closely watched by both critics and defenders of dual class share structures. Laval, Que.-based Couche-Tard is one of […]

November 8, 2021

Rogers is ‘worst case scenario’ for otherwise profitable dual-class share structures

A recent boardroom clash at Rogers Communications Inc. has revealed the governance risk associated with dual-class share companies, but experts say businesses with that structure can be hard to avoid for investors because they’re big profit generators. Companies with dual-class shares issue different sets of common shares that have different voting and control rights. This […]

November 5, 2021

Language office eyes probe after Air Canada English-only speech

Michael Rousseau’s first speech to business leaders in Montreal was supposed to be his coming out party, a chance for Air Canada new chief executive to build credibility and tell the story of an airline – a pillar of the Quebec economy – in recovery mode. Instead, the CEO’s English-only talk, during which he revealed that […]

November 4, 2021

Investors call for limits on dual-class shares in light of Rogers battle

Canadian investor organizations want stricter requirements for companies with dual-class stocks to trade on public exchanges amid a growing debate about the drawbacks of such shares and a controversy over voting rights at Rogers Communications Inc. Dual-class stock structuring – where different classes of shares in a single company have different voting rights – has […]

November 16, 2020

Louis Audet of Cogeco and Madeleine Paquin of LOGISTEC named 2020 Great builders of the Quebec economy

Montreal, November 18, 2020—As part of its biennial celebration of the Great builders of the Quebec economy, the IGOPP has named Louis Audet, Executive Chair of the Board of Cogeco, and Madeleine Paquin, President and CEO of LOGISTIC, as the laureates of its sixth edition. Since this initiative was launched in 2010, the IGOPP has […]

November 12, 2020

Louis Audet and Isabelle Marcoux appointed to IGOPP Board

Montreal, November 12, 2020—Yvan Allaire, Chair of the Board of the Institute for Governance (IGOPP), is pleased to announce the appointment of Louis Audet and Isabelle Marcoux, respectively Executive Chair of the Board of Cogeco Inc. and Chair of the Board of Transcontinental Inc., to the IGOPP’s Board. Mr. Allaire emphasized Mr. Audet and Ms. […]

September 30, 2020

At Cogeco there are no coattails

We take you back to early September and a brief review of the 24-hour Quebec Inc. torpedo of a proposed takeover of the Montreal-based Cogeco telecom companies — 24 hours that highlight investor, governance and competition issues. In the early evening of Tuesday, Sept. 1, Dexter Goei, CEO of the New York-based broadband company Altice […]

September 16, 2020

Couche-Tard founders to lose special voting rights

Alimentation Couche-Tard Inc. will let the sun set on the special voting rights held by its four founders. Executive chairman Alain Bouchard says that he and the three other men who built the Canadian convenience-store empire will let their 25-year-old special stock rights, which give them control over the company, expire next year as scheduled […]

September 11, 2020

‘It’s never only about the money’: Past deals hint at tactics for Cogeco’s suitors

The move by Rogers Communications Inc. and Altice USA to launch a hostile takeover bid for Cogeco Communications Inc. and parent Cogeco Inc. without the support of the Quebec companies’ controlling shareholder looks like a long-shot gamble to many experts. But they say similar past deals for family-controlled companies show there can be a path to victory […]

September 8, 2020

Virtual conference with Martin Lipton, foremost American authority on corporate law and governance issues

To mark its 15th anniversary, the Institute for Governance (IGOPP) in partnership with the Institute of Corporate Directors (ICD-Quebec chapter) is pleased to announce a virtual conference on The “Purpose” of a Corporation and the shift towards stakeholder governance and ESG with Martin Lipton, foremost authority on corporate law and governance issues and co-founder of […]

September 3, 2020

BNN interview with the Chair of IGOPP, Dr. Yvan Allaire, on Cogeco unsolicited bid from Altice

Chairman of the Institute for Governance Yvan Allaire says that the blunt response from Louis Audet suggests the family that owns Cogeco might not be open to negotiating a selling price. To access the interview with M. Allaire, please click here.