Power Corp co-CEO taking medical leave, will return by end of year

Power Corporation of Canada co-CEO Andre Desmarais is taking a temporary medical leave from his day-to-day activities at the Montreal-based holding company.

The company says Desmarais will continue to monitor and be involved in any major issues affecting Power Corporation (TSX: POW).

But during his leave, Desmarais will forego all remuneration from Power Corporation.

He is expected to resume all his activities at the company by the end of this year.

Power Corporation said Desmarais made his decision based on the advice of his physician at the Montreal Heart Institute.