MONTREAL, Sept. 3,
2024 /CNW/ - Letko, Brosseau & Associates Inc.
("Letko Brosseau") is pleased to announce the appointment of
Jean Gattuso as the next chair of
the board of directors. The appointment is effective beginning
January 1, 2025. Mr. Gattuso joined
the board in December 2022 and brings
his distinctive experience and leadership including 12 years as
President and COO of Lassonde Industries during which time he
oversaw the company's expansion in Canada and the U.S.
Mr. Gattuso sat on the board of Investissement Québec, the
Cercle des présidents du Québec, and co‑chaired the National Supply
Chain Task Force / Transport Canada. In 2001, Mr. Gattuso
co-founded the Conseil de la transformation alimentaire du Québec
(CTAQ), where he served as Chairman of the Board for several
years. Mr. Gattuso holds a Commerce degree from McGill University and an MBA from the École des
sciences de la gestion at l'Université du Québec à Montréal.
"I am delighted to welcome Jean as my successor. Jean brings a
wealth of leadership experience and business acumen. He has all the
skills and rigor needed to guide Letko Brosseau's management in all
their most significant decisions" said Thomas Birks, Chair of Letko Brosseau.
"As chair, Jean Gattuso's exceptional skills and decades of
knowledge leave me confident he will guide and support the firm in
its mission to manage our clients' wealth with a focus on
industry-leading independent research and sound, principled
investment strategies," said Daniel
Brosseau, President and Co-Founder of Letko Brosseau.
Since January 1988, Letko Brosseau
has outperformed the industry benchmarks, generating compound
returns of 10.9% for all assets under management, compared with
8.3% for the benchmark, and equity returns of 12.8%, outperforming
the benchmark of 8.4%. Over that time, more than $35 billion in gains on investments have been
generated for its clients.
Beyond its proven approach focusing on in-depth analysis of the
companies it invests in, Letko Brosseau believes greater leadership
is needed – system-wide – to help ensure Canadian companies are
supported when decisions are made on investments.
"I am grateful for the opportunity to serve as chair of Letko
Brosseau board where I will remain focused on ensuring world-class
good governance and on supporting its mission to provide
industry-leading knowledge-based investment strategies to safeguard
clients' investments," said Jean
Gattuso.
Mr. Gattuso takes over as chair following the distinguished
tenure of Thomas Birks who has
diligently and dutifully supported the company and the board since
2017. On behalf of the company and the board, Peter Letko, Co-Founder and Director of Letko
Brosseau, offers deep thanks to Thomas
Birks, who, as chair, oversaw the transition to an
independent board. Mr. Birks leaves a lasting and meaningful
legacy.
ABOUT LETKO, BROSSEAU & ASSOCIATES INC. —
www.lba.ca
Letko Brosseau is an independent investment manager founded in
1987, with offices in Montreal,
Toronto and Calgary. The firm manages assets for both
institutional investors and private clients.
Notes
Performance numbers above are annualized and presented in
Canadian dollars, net of actual management fees paid by clients,
and do not refer to any composite. Segment returns exclude cash.
The results are calculated by aggregating all assets and all
equities, respectively, in LBA accounts from January 1, 1988 to July
31, 2024.
The benchmarks represent the weighted average of all clients'
benchmarks. The Benchmark for all assets consists primarily of the
FTSE Canada 91 Day T-Bill Total Return Index, FTSE Canada Universe
Bond Total Return Index, S&P/TSX Composite Total Return Capped
index and MSCI World Total Return Net Index. The benchmark for
equity consists primarily of the S&P/TSX Composite Total Return
Capped Index and MSCI World Total Return Net Index.
Past performance is not a guarantee of future returns. All
investments pose the risk of loss and there is no guarantee that
any of the benefits expressed herein will be achieved or
realized.
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SOURCE Letko, Brosseau & Associates Inc.