(Bloomberg) — Andre Desmarais and Paul Desmarais Jr. are stepping down as co-chief executive officers of Power Corp. of Canada as part of a massive reorganization at one of the country’s largest financial services firms.The Desmarais brothers, sons of the founding family that runs the Montreal-based firm, will stay on as chairman and deputy chairman. Jeffrey Orr, current CEO of the Power Financial business, takes the top job at a new entity combining the two main units of the insurance and asset management company, according to a statement Friday.As part of the reorganization, Power Financial shareholders will receive 1.05 Power …read more
Source:: Yahoo Finance
