Michael Sabia
Encyclopedia
Michael John Sabia, is a Canadian businessman. He is the current CEO of the Caisse de dépôt et placement du Québec
. Sabia formerly served as CEO of Bell Canada
from 2002 through 2008.
. He is married to Hilary Pearson. Sabia has his undergraduate education from the University of Toronto
and earned his graduate
degrees from Yale University
.
.
Sabia's supervisor, Clerk of the Privy Council Paul Tellier
, left the public service to assume the presidency of Crown corporation Canadian National Railway
in the early 1990s and subsequently persuaded Sabia to follow him to help in privatizing the company. Sabia held a number of executive positions at Canadian National Railway
during the 1990, including the position of chief financial officer
.
Sabia left Canadian National to join Bell Canada Enterprises in 1999, and became chief executive in 2002. In 2007, his board
accepted an offer from the Ontario Teachers' Pension Plan
to privatize the telecommunications company. Later that year, Sabia said he would leave Bell after the privatization deal was finalized. Sabia left Bell in July 2008. By December 2008, following the collapse of the debt market
, the privatization deal fell apart.
Sabia was named chief executive of the Caisse de dépôt et placement du Québec
on March 13, 2009 to succeed Fernand Perrault.
Caisse de dépôt et placement du Québec
The Caisse de dépôt et placement du Québec manages public pension plans in the Canadian province of Quebec. It was founded in 1965 by an act of the National Assembly...
. Sabia formerly served as CEO of Bell Canada
Bell Canada
Bell Canada is a major Canadian telecommunications company. Including its subsidiaries such as Bell Aliant, Northwestel, Télébec, and NorthernTel, it is the incumbent local exchange carrier for telephone and DSL Internet services in most of Canada east of Manitoba and in the northern territories,...
from 2002 through 2008.
Personal life
Sabia is the son of Michael Joseph Sabia and Laura SabiaLaura Sabia
Laura Sabia, OC was a Canadian social activist and feminist.Born Laura Villela in Montreal, Quebec, the daughter of Italian immigrants, she played an important part, as National Chair of the Committee for the Equality of Women, in the creation of the Royal Commission on the Status of Women called...
. He is married to Hilary Pearson. Sabia has his undergraduate education from the University of Toronto
University of Toronto
The University of Toronto is a public research university in Toronto, Ontario, Canada, situated on the grounds that surround Queen's Park. It was founded by royal charter in 1827 as King's College, the first institution of higher learning in Upper Canada...
and earned his graduate
Master's degree
A master's is an academic degree granted to individuals who have undergone study demonstrating a mastery or high-order overview of a specific field of study or area of professional practice...
degrees from Yale University
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
.
Career
Sabia held a number of senior positions in Canada's federal public service during the 1980s and early 1990s, including Deputy Secretary to the Cabinet of the Privy Council OfficePrivy Council Office (Canada)
In Canada the Privy Council Office is the secretariat of the federal cabinet, providing officially non-partisan advice and support to the Prime Minister and leadership, coordination, and support to the departments and agencies of the government...
.
Sabia's supervisor, Clerk of the Privy Council Paul Tellier
Paul Tellier
Paul Mathias Tellier, PC, CC is a Canadian businessman and former public servant. Born in Joliette, Quebec, Tellier was educated at Laval University and the University of Oxford.- Biography :Tellier entered Canada's civil service in the 1970s...
, left the public service to assume the presidency of Crown corporation Canadian National Railway
Canadian National Railway
The Canadian National Railway Company is a Canadian Class I railway headquartered in Montreal, Quebec. CN's slogan is "North America's Railroad"....
in the early 1990s and subsequently persuaded Sabia to follow him to help in privatizing the company. Sabia held a number of executive positions at Canadian National Railway
Canadian National Railway
The Canadian National Railway Company is a Canadian Class I railway headquartered in Montreal, Quebec. CN's slogan is "North America's Railroad"....
during the 1990, including the position of chief financial officer
Chief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
.
Sabia left Canadian National to join Bell Canada Enterprises in 1999, and became chief executive in 2002. In 2007, his board
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
accepted an offer from the Ontario Teachers' Pension Plan
Ontario Teachers' Pension Plan
The Ontario Teachers' Pension Plan , commonly referred to as Teachers, is the organization responsible for administering pensions for public school teachers of the Canadian province of Ontario. The OTPP also invests the plan's pension fund, making it one of the largest and most powerful investment...
to privatize the telecommunications company. Later that year, Sabia said he would leave Bell after the privatization deal was finalized. Sabia left Bell in July 2008. By December 2008, following the collapse of the debt market
Bond market
The bond market is a financial market where participants can issue new debt, known as the primary market, or buy and sell debt securities, known as the Secondary market, usually in the form of bonds. The primary goal of the bond market is to provide a mechanism for long term funding of public and...
, the privatization deal fell apart.
Sabia was named chief executive of the Caisse de dépôt et placement du Québec
Caisse de dépôt et placement du Québec
The Caisse de dépôt et placement du Québec manages public pension plans in the Canadian province of Quebec. It was founded in 1965 by an act of the National Assembly...
on March 13, 2009 to succeed Fernand Perrault.