Schwartz officially steps down as Onex CEO as share plan approved
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 11/05/2023 (948 days ago), so information in it may no longer be current.
TORONTO – Shareholders of Onex Corp. have approved a change to its multiple-voting shares that will allow Gerry Schwartz to retain voting control of the company for another three years even as he officially steps down as chief executive.
Onex president Bobby Le Blanc was named to the top job at the private equity investment firm, while Schwartz will remain as chairman.
The special voting rights were set to expire when Schwartz stepped down as CEO, but shareholders were asked to allow a change to provide for a three-year sunset provision on the multiple-voting shares.
The plan was approved by 98 per cent of the votes cast by Onex’s subordinate voting shares at the company’s annual meeting.
The three-year period is down from an initial plan for five years that was changed by the company after consultations with shareholders.
Onex is expected to report its first-quarter results on Friday.
This report by The Canadian Press was first published May 11, 2023.
Companies in this story: (TSX:ONEX)