Pierre Karl Péladeau

Pierre Karl Péladeau (born 16 October 1961), also known by his initials PKP, is a Canadian businessman, billionaire and former politician. He was also the MNA for Saint-Jérôme. Péladeau is the president and CEO of Quebecor Inc. He used to own Sun Media Corporation. Péladeau is seen as a "strong Quebec nationalist" and an influential businessman in Quebec.

Péladeau was the Leader of the Opposition in the Quebec National Assembly from his election as leader of the Parti Québécois on 15 May 2015 until his resignation on 2 May 2016 for family reasons.

Life and career

Péladeau is the son of the Quebecor founder Pierre Péladeau (1925–1997) and his first wife Raymonde Chopin (1927–1976). His siblings are Érik Péladeau, Anne-Marie Péladeau, Isabelle Péladeau, Simon-Pierre Péladeau, Esther Péladeau and Jean B. Péladeau. He was educated in Montreal and Paris, especially at Université Paris VIII. He attended the Collège Jean-de-Brébeuf. He holds a degree in philosophy from Université du Québec à Montréal and a law degree from Université de Montréal.

Péladeau was so inspired by Karl Marx while attending university that he changed his middle name from “Carl” to “Karl”.

Péladeau joined his father's management team at an early age. He is known to be confrontational with unions and has used lock-out tactics at least 14 times.G+M: "Media mogul Péladeau to run for Parti Québécois in election" 9 Mar 2014
/ref> He counts Brian Mulroney amongst his business associates. Péladeau sits on the boards of several Quebecor companies and is active in many charitable and cultural organizations. Quebecers identify him with his initials, PKP.

Business career

Péladeau first started in acquisition and business development participating in the acquisition of BCE Publitech which made Quebecor the largest printer in Canada. He played a leading role in the acquisition of Maxwell Graphics which gave the company a significant presence in the U.S. market. He also was involved in the acquisition of Donohue Inc., one of North America's most efficient pulp and paper companies.

Péladeau was appointed president of Quebecor Communications Inc. in 1991. This division included the company's main publishing assets and some distribution and retail operations.

In 1994, Péladeau relocated to Paris to help his company's growth. As president of Quebecor Printing Europe he developed the new subsidiary through a series of acquisitions in France, the United Kingdom and Spain, building it into Europe's largest printer.

In 1997, after the sudden death of his father, he returned to the Montreal head office to assume the position of executive vice president and chief operating officer of Quebecor Printing Inc. with overall responsibility for the company's worldwide operations.

In 1998, Péladeau spearheaded the acquisition of Sun Media Corporation, making Quebecor the second largest newspaper chain in Canada.

In 1999, he carried out the acquisition of World Color Press by Quebecor Printing Inc. The acquisition created Quebecor World Inc., one of the world's largest printers. Quebecor World had, at one time, operations in 17 countries on three continents and employs approximately 35,000 employees. In 1999 the board of directors of Quebecor Inc. named him president and CEO of the company.

In 2000, with the support of the Caisse de dépôt et placement du Québec, he acquired Videotron Group, the largest cable operator in Québec, third largest in Canada and owner of the country’s leading French-language broadcaster (TVA).

Shortly afterwards all of the company's media properties were brought under one roof with the creation of Quebecor Media, currently one of the largest media operations in Canada. It is engaged in newspaper publishing (Journal de Montréal, Journal de Québec, 24heures), cable television, Internet access provider and local telephony ( Vidéotron ltée), broadcasting (Groupe TVA), Web technology and integration, Internet portals ( QUB), book and magazine publishing (TVA Publications Inc.), retailing of books and entertainment products (Québecor Sports et divertissement, Musicor, GESTEV) and business telecommunications (Vidéotron ltée).

In 2008, Quebecor World went bankrupt as the printing business collapsed.G+M: "How Péladeau’s PQ bombshell will lead to aftershocks in Ottawa" 9 Mar 2014
/ref> He allegedly resents the failure of the Royal Bank of Canada and the English Canadian business establishment to refinance Quebecor World's debt.

In 2009, Péladeau was in a bidding war with the Molson family for the Montreal Canadiens hockey franchise. Péladeau ultimately lost out to the scions of the Canadian brewing giant, and an article published in Quebecor's ''Journal de Québec'' noted Péladeau's “regret” that Canadiens owner George Gillett “preferred financial considerations, while éladeauwould have liked the Canadiens to be based on a Québécois identity.”

In March 2013, Péladeau announced he was stepping down as CEO of Québecor and was succeeded in May 2013 by Vidéotron's then-President Robert Depatie.cbc.ca: "Peladeau to step down as Quebecor head" 14 Mar 2013
/ref> Péladeau was to continue to work for the company in corporate strategy.

On 15 May 2013, Péladeau was appointed by Pauline Marois to be chairman of the board of directors of Hydro-Québec, which is the largest hydroelectric producer and distributor in Canada. He resigned in March 2014 to pursue his political ambitions.

Péladeau returned as Quebecor's CEO and President on 16 February 2017, with Brian Mulroney remaining as chairman.

Political career

On 9 March 2014, Péladeau announced his candidacy for that year's election as a star candidate for the Parti Québécois in the riding of Saint-Jérôme, which is contiguous with the Montreal exurb of the same name just north-east of Mirabel Airport. He was not previously known to be a sovereigntist, although with pronouncements such as the fact that he wants "Quebec to be a country" and that he is "in it for sovereignty" he promptly established himself as such.G+M: "King Karl and the PQ’s courting of business" (Cousineau) 10 Mar 2014
/ref> The federal government chose in early March not to comment on Péladeau's decision to embrace the PQ and Quebec sovereignty.
"We have no intention of getting involved in a provincial election," said Denis Lebel, federal Minister of Intergovernmental Affairs, and since October 2008 the Minister of Economic Development Agency of Canada for the Regions of Quebec in Stephen Harper's government.

Quebec Liberal leader and Leader of the Opposition Philippe Couillard, as did Coalition Avenir Québec, felt that if the PQ won another term, it would be a severe conflict of interest for the owner of half the media outlets in Quebec to be a government backbencher. Péladeau had in 2010 refused to meet with John Gomery, president of the '' Conseil de presse du Quebec'', over his withdrawal from the ''Conseil'' of two of Quebecor's newspapers, the ''Journal de Montréal'' and the ''Journal de Québec''.

Péladeau's selection alienated voters on several fronts. He had a reputation for being a union-buster due to his frequent use of lockouts, a significant liability both in a province that is 40 percent unionized and in a party that has long billed itself as a social democratic party."Pierre Karl Péladeau to serve with ‘passion’"
. ''The Gazette'', 8 April 2014. At the same time, his unabashed support for sovereigntism alienated many voters who did not want to vote on the sovereignty issue again. Indeed, according to ''The Globe and Mail'', the PQ's poll numbers flatlined soon after Péladeau announced his candidacy and never recovered.Tu Thanh Ha
"Three reasons the PQ lost, and Couillard’s biggest challenge"
''The Globe and Mail'', 8 April 2014.

Péladeau was elected in the Saint-Jérôme riding with 37 percent of the vote. His first day at the National Assembly was on 26 May 2014, eight days after a bike accident in the Eastern Townships left him with four fractures.

Following much speculation, Péladeau officially entered the Parti Québécois leadership race in November.

Péladeau's wealth and status as principal shareholder of Québecor, the province's largest media firm, were leading issues during the campaign. The Péladeau campaign outspent the second place candidate, Alexandre Cloutier, by over five times, spending a total $415,000, with Cloutier spending $79,598.

On 15 May 2015, Péladeau was elected leader of the Parti Québécois with 57% of party votes. He resigned his posts on 2 May 2016.

Personal life

Péladeau has a daughter, Marie (born 2000), from his previous relationship with Isabelle Hervet, a native of France.

He was in a long-term relationship with Julie Snyder, which produced two children, Thomas (born 2005) and Romy (born 2009). Their separation was announced in December 2013, but the couple later reconciled and were married on 15 August 2015 in Quebec City, Quebec.lapresse.ca: "Pierre Karl Péladeau et Julie Snyder se séparent" 10 Jan 2014
/ref> They separated again in January 2016, less than five months after their marriage. They divorced in 2016.

His girlfriend Marie-Christine Couture was discovered dead in October 2016 at her home in Montreal. Police theorize it was from suicide.

Péladeau dated Lucie Laurier, a Canadian actress, for awhile.

He is now in a relationship with model and artist Pascale Bourbeau. They have two boys, Henri Raphaël Péladeau Bourbeau, born on June 7, 2020, and Gabriel Péladeau Bourbeau, born on August 12, 2021.

In 2019, Forbes estimated his net worth to be about $1.8 billion.

References

{{DEFAULTSORT:Peladeau, Pierre Karl
1961 births
Living people
French Quebecers
Canadian mass media owners
20th-century Canadian newspaper publishers (people)
21st-century Canadian newspaper publishers (people)
Université de Montréal alumni
Université du Québec à Montréal alumni
Quebecor people
Pierre Karl
Businesspeople from Montreal
Politicians from Montreal
Leaders of the Parti Québécois
Parti Québécois MNAs
Université de Montréal Faculty of Law alumni
21st-century Canadian politicians
Canadian billionaires