Quebec’s government has chosen former financial executive Michael Sabia as the next chief executive officer of Hydro-Quebec, according to people familiar with the matter.
Sabia has been tapped to succeed Sophie Brochu, who left as head of the massive electrical utility in April. The appointment is expected to be made Wednesday upon approval from Quebec’s cabinet, the people said, speaking on condition they not be named because the matter is still private.
Sabia, 69, is Canada’s deputy minister of finance, serving as the top bureaucrat to Finance Minister Chrystia Freeland. He was CEO of the Caisse de Depot et Placement du Quebec, Canada’s second-largest public pension manager, from 2009 to 2020, leading the institution into a major investment in a light rail system project in Montreal, the Reseau Express Metropolitain.
Before that, he was CEO of BCE Inc., the country’s largest telecommunications company.
A spokesperson for Hydro-Quebec did not immediately respond to a request for comment.
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