Search underway for new EDC president after departure of Poloz

OTTAWA—Export Development Canada’s board of directors has appointed an acting president and CEO as the search gets underway to find a permanent replacement.

Pierre Gignac, the agency’s senior vice-president of enterprise risk and chief risk officer, will take over as EDC head on an interim basis.

“Mr. Gignac’s deep knowledge of EDC’s business and strong relationships with key customers make him the ideal candidate to assume the interim leadership of the Corporation,” acting chair of EDC’s board of directors Linda Hohol said in a statement.

“(He) brings both a steady hand to the operational fulfillment of EDC’s corporate plan and a strong leadership style that the board believes is well suited to a smooth transition period.”

The temporary appointment of Gignac comes on the heels of the departure of Stephen Poloz, who will take the helm as the governor of the Bank of Canada next month.

Gignac has been with EDC since 1999.

Now the hunt is on to find the next president of EDC.

Those duties, according to the agency, will be carried out by EDC’s board of directors, the Minister of International Trade and the Privy Council Office.

The president and CEO position at EDC is appointed by the federal government.

No time frame has been set for the new hire.