Readers are referred to the section entitled "Forward-looking
Statements" at the end of this release.
MONTREAL,
April 5, 2012 /PRNewswire/ - Power
Corporation of Canada (TSX: POW)
announced today that Mr. Philip K.
Ryan will be stepping down as Executive Vice-President and
Chief Financial Officer of the Corporation. Mr. Ryan will be
pursuing other interests in the United
States, including board related work and teaching.
During his four years with the Power group of
companies, he has made a significant contribution to Power
Corporation and its subsidiaries. The Board of Directors expresses
its appreciation to Mr. Ryan and wishes him the very best in his
future endeavours.
The Corporation is pleased to announce that its
Board of Directors has approved the appointment of Mr. Gregory D. Tretiak as Executive Vice-President
and Chief Financial Officer. Mr. Tretiak has been with IGM
Financial Inc. (a subsidiary of the Corporation) for 24 years and
is currently the Executive Vice-President and Chief Financial
Officer, a position he has held since 1999. The Board of Directors
is of the view that the experience of Mr. Tretiak and his knowledge
of the Power group make him ideally suited for his new role with
the Corporation.
Mr. Tretiak will also join Power Financial
Corporation, a subsidiary of the Corporation, as Executive
Vice-President and Chief Financial Officer.
These changes are expected to take place after
the respective Annual General Meeting of Shareholders of the
Corporation and Power Financial in May of 2012.
Power Corporation of Canada is a diversified international
management and holding company with interests in companies in the
financial services, communications and other business sectors in
North America, Europe and Asia.
Forward-Looking Statements
Certain statements in this News Release, other than statements of
historical fact, are forward-looking statements based on certain
assumptions and reflect the Corporation's current expectations, or
with respect to disclosure regarding the Corporation's public
subsidiaries, reflects such subsidiaries' disclosed current
expectations. Forward-looking statements are provided for the
purposes of assisting the reader in understanding the Corporation's
financial performance, financial position and cash flows as at and
for the periods ended on certain dates and to present information
about management's current expectations and plans relating to the
future and the reader is cautioned that such statements may not be
appropriate for other purposes. These statements may include,
without limitation, statements regarding the operations, business,
financial condition, expected financial results, performance,
prospects, opportunities, priorities, targets, goals, ongoing
objectives, strategies and outlook of the Corporation and its
subsidiaries, as well as the outlook for North American and
international economies for the current fiscal year and subsequent
periods. Forward-looking statements include statements that are
predictive in nature, depend upon or refer to future events or
conditions, or include words such as "expects", "anticipates",
"plans", "believes", "estimates", "seeks", "intends", "targets",
"projects", "forecasts" or negative versions thereof and other
similar expressions, or future or conditional verbs such as "may",
"will", "should", "would" and "could".
By its nature, this information is subject to
inherent risks and uncertainties that may be general or specific
and which give rise to the possibility that expectations,
forecasts, predictions, projections or conclusions will not prove
to be accurate, that assumptions may not be correct and that
objectives, strategic goals and priorities will not be achieved. A
variety of factors, many of which are beyond the Corporation's and
its subsidiaries' control, affect the operations, performance and
results of the Corporation and its subsidiaries and their
businesses, and could cause actual results to differ materially
from current expectations of estimated or anticipated events or
results. These factors include, but are not limited to: the impact
or unanticipated impact of general economic, political and market
factors in North America and
internationally, interest and foreign exchange rates, global equity
and capital markets, management of market liquidity and funding
risks, changes in accounting policies and methods used to report
financial condition (including uncertainties associated with
critical accounting assumptions and estimates), the effect of
applying future accounting changes, business competition,
operational and reputational risks, technological change, changes
in government regulation and legislation, changes in tax laws,
unexpected judicial or regulatory proceedings, catastrophic events,
the Corporation's and its subsidiaries' ability to complete
strategic transactions, integrate acquisitions and implement other
growth strategies, and the Corporation's and its subsidiaries'
success in anticipating and managing the foregoing factors. The
reader is cautioned to consider these and other factors,
uncertainties and potential events carefully and not to put undue
reliance on forward-looking statements. Information contained in
forward-looking statements is based upon certain material
assumptions that were applied in drawing a conclusion or making a
forecast or projection, including management's perceptions of
historical trends, current conditions and expected future
developments, as well as other considerations that are believed to
be appropriate in the circumstances, including that the foregoing
list of factors, collectively, are not expected to have a material
impact on the Corporation and its subsidiaries. While the
Corporation considers these assumptions to be reasonable based on
information currently available to management, they may prove to be
incorrect.
Other than as specifically required by
applicable Canadian law, the Corporation undertakes no obligation
to update any forward-looking statement to reflect events or
circumstances after the date on which such statement is made, or to
reflect the occurrence of unanticipated events, whether as a result
of new information, future events or results, or otherwise.
Additional information about the risks and
uncertainties of the Corporation's business and material factors or
assumptions on which information contained in forward-looking
statements is based is provided in its disclosure materials,
including its most recent Management's Discussion and Analysis and
its Annual Information Form filed with the securities regulatory
authorities in Canada, available
at www.sedar.com.
SOURCE POWER CORPORATION OF CANADA