MONTREAL—Rémi Marcoux, founder of Transcontinental, has officially stepped down from his role as chairman of the company's board of directors, while his daughter, Isabelle Marcoux, will fill his position.

Rémi Marcoux will remain on the board as a director.


Rémi Marcoux


The move was highlighted at the annual TC Transcontinental shareholders' meeting held today in Montreal.

Rémi Marcoux spoke about his pride in the company's achievements and thanked the thousands of people who have worked for TC Transcontinental since 1976, the year he founded the company with Claude Dubois and André Kingsley. "My dream was to found a company that was built on my values and that would last for a long time. Every day I have had the great pleasure of realizing this dream," he said in a release from the company.

He also explained his decision to step down as chairman of the board. "My decision has been planned to ensure an orderly and transparent transition in the chair of the board," he said. "Isabelle has all the qualities needed for this role. She has been vice chair of the board of Transcontinental since 2008. She is also a member of the boards of several other major Canadian corporations."

His daughter paid tribute to the legacy created by her father. "Rémi is giving us a company with assets which place it in an excellent position for the future: sustained growth, loyal and satisfied customers, a strong corporate culture based on the values of innovation, respect, performance and teamwork, a low debt level, a commitment to sustainable and responsible development and excellent corporate governance," she noted.

On the main challenges facing Transcontinental, she added, "We must continue our transformation by developing digital products and services that are aligned with the marketing strategies of our customers; we must create value for our shareholders, both by leveraging our assets and by making strategic investments; and we must broaden our reputation as a company that acts responsibly in its community and is true to its values."

Addressing the shareholders' meeting, François Olivier, president and chief executive officer, emphasized that print is still a highly effective medium, as 46 percent of advertising spending goes to print.

Transcontinental first made the announcement in September 2011 that Marcoux would be stepping down as chair.