In the eyes of Quebec Inc.: CGI’s CEO makes a lot of money

In this bi-weekly column, we provide an overview of insider transactions and investments in Quebec companies.

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• Also read: The FTQ fund invests in electronic circuits

His options pay him $11.6 million

The big boss of CGI, the American George Schindler, made a profit of $11.6 million ten days ago by exercising stock options in the Quebec IT multinational. One of the company’s founders, André Imbeau, raised more than $960,000 this way. CGI shares are up more than 17% year-to-date.

Boralex and TFI for the fund

George Schindler

Photo from Boralex website

The Caisse de dépôt bought more than $38 million worth of Boralex shares in October. It now owns a 15.3% stake worth more than $460 million in the Quebec renewable energy producer. Affected by rising interest rates, Boralex shares have fallen more than 26% since the beginning of 2023.

Nice win for a v.-p. from Bombardier

George Schindler

Daniel Brennan, senior vice president of human resources at Bombardier. Photo from Bombardier website

Bombardier’s vice president of human resources, Daniel Brennan, made a profit of more than $2.2 million this week by exercising options at the Montreal aircraft maker. In March he had already collected $265,000 this way. Mr. Brennan joined Bombardier in 2017. Bombardier shares have gained more than 15% over the past 52 weeks.

Big sale at WSP

George Schindler

WSP Global headquarters in Montreal. Wikipedia

RPC Investments, WSP Global’s second-largest shareholder, sold more than $450 million worth of shares in the Montreal engineering firm last week. The Canada Pension Plan fund manager retains a 12.2% stake in WSP, worth nearly $2.9 billion. WSP shares have gained more than 18% since the beginning of the year.

He buys power

George Schindler

Jeffrey Orr photo from Canada Life website

Power Corporation CEO Jeffrey Orr bought more than $900,000 worth of shares in the Montreal conglomerate last week. He now owns it for just over $24 million. Power’s stock has increased more than 14% over the past four weeks.

Pathway raises $5 million

George Schindler

Screenshot of the Pathway website

Young Montreal startup Pathway has raised $5 million in a funding round led by Japan’s Yamaha Motor Ventures. Founded in 2018, Pathway uses artificial intelligence to create summaries of scientific documents for healthcare professionals who are often overwhelmed with information.

The BN invests in Clean

George Schindler

Photo from Clean International website

The National Bank SME Growth Fund invested an unspecified amount in Clean International, a Lévis-based company specializing in household cleaning and hygiene in the agri-food sector. Clean was founded in 1993 by Daniel Labrie and employs more than 800 people. The SME Growth Fund has a capitalization of $200 million, half of which comes from Quebec.

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