Montréal, June 26, 2008 – The Solidarity Fund QFL (“Fund”) and the Institute for Governance of Private and Public Partnerships (“IGPPO”) today announced an alliance aimed at offering director training to the partner companies of the Fund and its network.
By providing Board members with a clear explanation of their role and responsibilities, business owners will be able to fully leverage solid, independent expertise. As such, the course will be adapted to the different realities of Québec SMEs, i.e., family businesses, IT and biotech firms and public companies as well as manufacturers and their special challenges.
Between now and the end of the year, the IGPPO will work with the Fund to develop the training program, choose the trainers and promote the course. The trainers will all be well versed in the particular situation of SMEs, a key element for the program success.
“The training program will be adapted to the specific needs of SMEs and is in response to the SME governance recommendations made by the working group chaired by Michel Audet. In an increasingly complex economic environment, entrepreneurs can only gain by surrounding themselves with credible, competent people to help grow their company and face the many challenges that come with this growth. By asking the directors of our partner companies to improve their governance practices through solid training, we are helping create even more competitive companies in Québec,” said the Fund’s chief executive, Yvon Bolduc.
“Unlike big companies, SMEs are less inclined to call on outside resources to help with their growth. Our challenge was to develop a training program suited to the realities and real needs of SME owners and their directors. Thanks to the deep SME expertise we’ve acquired over the last 25 years, we know that with our training, SME leaders will come to view governance as a means of creating value rather than just red tape,” added Michel Nadeau, executive director of the IGPPO, an organization created by a joint initiative of HEC Montréal and Concordia University. The institute is supported by more than ten private and public organizations, including the Jarislowsky Foundation, Autorité des marches financiers and BCE.
About the Institute for Governance of Private and Public Organizations (IGOPP) Established in September 2005, the Institute for Governance of Private and Public Organizations (IGPPO) is a joint initiative of HEC Montréal and Concordia University (The John Molson School of Business). The Institute is committed to promoting strong corporate governance practices among organizations in Quebec and the rest of Canada. Its operations focus primarily on key management activities, namely defining the corporate mission, evaluating strategic management and financial performance, recruiting and compensating officers and managing risk. It achieves this primarily through research, training, the issue of position papers and the dissemination of information. The training is based on the “value-creating governance” model developed by Drs. Yvan Allaire and Mihaëla Firsirotu, who have published a number of works on governance. Dr. Allaire is chairman of the IGOPP Board of directors. The Institute commissions academic research, organizes conferences and training seminars, takes part in public debates on governance issues, reinforces governance-related skills and promotes partnership and knowledge transfer. For more information, visit www.igopp.org
About the Solidarity Fund QFL
With net assets of over $7.4 billion as at November 30, 2007, the Solidarity Fund QFL is a development capital company that through its RRSP channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and to further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 1,696 companies. It currently has more than 575,000 shareholders and has helped, on its own or with other financial partners, to create, maintain and protect over 122,000 jobs. For more information, visit www.fondsftq.com.
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Note: The telephone numbers provided below are for the exclusive use of journalists and other media representatives. Sources : Michel Nadeau
Executive director of the IGPPO
HEC Montréal, Concordia University
(514) 340-6956
Email: mnadeau@igopp.org
Josée Lagacé
Senior Advisor, Press Relations and Communications
Fonds de solidarité FTQ
(514) 850-4835
Email : jlagace@fondsftq.com