Chairman of the Board of Directors at Boralex for eight years and a member for nearly 15 years, Alain Rhéaume will step down once his successor is appointed, no later than December 2025. The announcement follows shortly after the recent unveiling of the Canadian renewable energy company’s 2030 Strategy. Mr Rhéaume’s decision complies with the 15-year term limit imposed by Boralex’s internal governance policies. The governance committee of the Board will lead the search and appointment of the new Chair.
Strategic evolution at Boralex under Rhéaume’s chairmanship
Under Alain Rhéaume’s leadership, the company significantly renewed its executive team, starting with Patrick Decostre’s appointment as President and Chief Executive Officer. This internal reorganisation also impacted several key roles, diversifying the expertise within the executive team. Concurrently, the Board of Directors itself underwent substantial changes, welcoming three new directors over the past 10 months while two long-standing members departed. These shifts aim to balance proven competencies and fresh perspectives, essential for pursuing the company’s long-term growth strategy.
Growth strategies and challenges towards 2030
Rhéaume’s tenure was also marked by rigorous implementation of objectives defined in the 2025 Strategic Plan, which the company largely achieved according to its public announcements. The newly introduced 2030 Strategy, revealed on June 17, aims to maintain ambitious growth despite current global economic challenges. This uncertain economic environment remains a significant hurdle for all companies in the sector, demanding simultaneous management of disruptions and growing energy demand.
End of tenure highlighted by organisational stability
In departing from his role, Alain Rhéaume emphasised the importance of orderly transitions in governance, strategic direction, and operational leadership at Boralex. According to him, the company now possesses the necessary resources to adapt to a rapidly transforming environment. He stated that his successor’s mission would be to guide the group in effectively implementing its new strategic direction in the medium term. Patrick Decostre, President and Chief Executive Officer, thanked Mr Rhéaume for his “sharp business acumen and governance expertise,” as well as his ability to balance “risk and opportunity with a human approach.”
