Claude Dussault to retire from Intact’s board

Claude Dussault, chairman of the board of directors for Intact Financial Corporation (IFC), will retire at the end of his current term, although he will stay on in different roles with the company, Canada’s largest property and casualty insurer said Wednesday,

William L. Young has been appointed as the new chairman of the board, effective upon his election as a director at IFC’s annual meeting on May 11.

“Claude was instrumental in the development and execution of our vision and strategy over the last decade,” IFC CEO Charles Brindamour says in a press release. “I thank him for his leadership, and I am glad he will continue to contribute to advancing Intact’s vision in his new roles.”

Dussault was president and CEO of the company from 2001 to 2007. He became chairman of the board of directors effective Jan. 1, 2008, and has been a director of IFC and its P&C insurance subsidiaries since 2000.

Dussault is currently president of privately-held investment company ACVA Investing Corporation. He will remain part of the Intact organization as a director of RSA UK & International, and as a member of the U.S. advisory board. (Intact and Danish insurer Tryg A/S completed their acquisition of RSA plc in June 2021. As part of the deal, Intact acquired RSA Canada and some of RSA’s international operations.)

Dussault is a fellow of the Canadian Institute of Actuaries and the U.S.-based Casualty Actuarial Society. He graduated from Université Laval in Quebec City with a Bachelor of Actuarial Sciences degree and has completed the Advanced Executive Education Program at the University of Pennsylvania’s Wharton School of Business.

As for Dussault’s successor, Young, Brindamour says his “long history of leadership, coupled with his significant public company board experience, made him an obvious choice for the chairman role.”

Young is currently an independent director, acts as chairman of IFC’s compliance review and corporate governance committee, and sits on the audit committee. He holds a Bachelor of Science degree in chemical engineering from Queen’s University in Kingston, Ont., and received a Master’s in Business Administration with distinction from Harvard University.

Young has extensive experience in the private equity sector, as well as M&A experience. He also has significant private company board and board leadership experience over the last 20 years, including a number of European and U.S.-based companies, his company bio notes.

In 1998, Young co-founded and was a partner of Monitor Clipper Partners, a Boston-based private equity firm. He has been a member of the Magna International board of directors since 2011 and chaired that board since 2012. In September 2020, Young was appointed chairman of the board of directors of SNC-Lavalin Group Inc.

 

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