Patrick Lemaire
will retire at the end of 2020
MONTREAL, Oct. 21, 2020 /PRNewswire/ - Boralex Inc.
("Boralex" or the "Corporation") (TSX: BLX) is pleased to announce
that Patrick Decostre has been appointed President and Chief
Executive Officer. Patrick Decostre started out as the
Corporation's first employee in Europe where he spent 18 years building
Boralex's footprint and making it France's first independent onshore wind power
producer. He will be the successor of Patrick Lemaire, retiring on December 31, 2020, after 14 years spent growing a
young, yet bold Quebec-based
company into a renowned and cutting edge international player in
the renewable energy industry.
"The Board is proud that Patrick Decostre has agreed to succeed Patrick Lemaire as President and Chief
Executive Officer and to become a member of the Board of Directors
of Boralex," said Alain Rhéaume, Chairman of the Board at Boralex.
"After a rigorous succession planning process, it became clear that
Patrick Decostre was the ideal choice to lead the Corporation and
keep the pace of Boralex's development, as it successfully
completed the first year of its 2023 strategic plan. Patrick has
built his reputation as a seasoned manager who brings people
together and is known for his in-depth understanding of the energy
sector, strategic vision and development expertise. Patrick
Decostre is the leader the organization needs."
"As head of the Corporation since 2006, Patrick Lemaire's renown has grown through his
ability to drive its growth and transformation, with the help of
the management team and Boralex's collaborators," added Mr.
Rhéaume. "Today, Boralex is an established leader in renewable
energy in both Canada and
France. He accomplished all of
this through his transparency, entrepreneurship and respect for
everyone around him. On behalf of the Board of Directors, I would
like to thank him for making Boralex one of the jewels of
Quebec businesses that have
expanded abroad. I am also delighted that Patrick Lemaire has accepted to remain a member
of the Board of Directors of Boralex. The Corporation will thus
continue to benefit from his experience and advice in the coming
years."
"It's a privilege to take the helm at Boralex during the Corporation's 30th anniversary year, and I want to
thank the Directors of the Company for their trust" said Patrick
Decostre. "But today, the entire Boralex family wishes to express
its deepest gratitude to Patrick
Lemaire, a true entrepreneur and leader. I am deeply touched
by the trust that Patrick has always shown me, and I am committed,
with all my colleagues and Boralex partners, to keep building on
the immense legacy he has left us."
A physicist engineer with a background in strategic management
and leadership, Patrick Decostre has worked as Boralex's
Vice-President and Chief Operating Officer since March 2019 and is based in Montreal since July
2019. During this time, he has participated in the
development of the Corporation's 2023 strategic plan. This plan
focuses on growing and diversifying Boralex's solar and wind
operations, attracting new customers through a tailored service
offering, as well as optimizing its existing assets and internal
processes.
The renewable energy sector continues to grow and Boralex is at
the forefront of this industry. Through its committed team, the
Corporation is expanding its development activities in its target
geographic markets, namely Canada,
France, United States and Scotland, where the governments' commitment to
sustainable energy transition and economic recovery are being
intensified, leading to tendering for the installation of power
production facilities using renewable sources.
Patrick Decostre will assume his new role on December 1, while Patrick
Lemaire will then serve as an advisor to the management team
for a smooth transition period until the end of the year.
About Boralex
Boralex develops, builds and operates renewable energy power
facilities in Canada, France, the United
Kingdom and the United
States. A leader in the Canadian market and France's first independent onshore wind power
producer, the Corporation is recognized for its solid experience in
optimizing its asset base in four power generation types-wind,
hydroelectric, thermal and solar. Boralex ensures sustainable
growth by leveraging the expertise and diversification developed
for 30 years. Boralex's shares are listed on the Toronto Stock
Exchange under the ticker symbol BLX. More information is available
at www.boralex.com or www.sedar.com. Follow us on
Facebook, LinkedIn and Twitter.
Information
Financial analysts and investors are invited to attend a
conference call with Mr Patrick
Lemaire, Mr Patrick Decostre
and the Executive Committee.
Date and time: Wednesday, October 21, 2020 at 11
a.m. ET
Dial-in numbers: 1-888-231-8191
or 647-427-7450
Media and other interested individuals are invited to listen to
the conference and view a presentation which will be broadcasted
live and on a deferred basis on the Boralex website at
www.boralex.com. A full replay will also be available by dialing
toll free at 1-855-859-2056 until October
28, 2020. The access code is 573444, followed by the pound
sign (#).
Biographies of Patrick Lemaire
and Patrick Decostre specially designed for the media are available
as well as official photos. Contact the Boralex's Public affairs
and Communications Department to obtain them.
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SOURCE Boralex Inc.