Casino News

Loto-Québec Finds CEO Lynne Roiter’s Successor

Not long from now, Loto-Québec will be parting ways with its long-serving President and CEO Lynne Roiter. This June the Crown agency will be tasked with finding a new leader as Ms. Roiter’s term comes to an end as she will retire after a successful career. Her successor will have the uneasy task of leading the company amidst the financial crisis caused by the unprecedented situation.

Just two months from now at the beginning of June, Ms. Roiter will be officially stepping down from the President and CEO position, thus her 35 years with the corporation coming to an end. Her term was rather emblematic as she was the first female to take over the position. She started as Director of Legal Affairs to General Secretary and then Vice-President of the Legal Department.

End of an Era

As Ms. Roiter’s term draws near, this Wednesday Finance Minister Eric Girard has said a few words on her imminent departure from the Crown Corporation. Mr. Girard stated that over her career with the company she had done a remarkable job and had a major part of the regulator’s success in that time, as he also thanked her for her devoted years of service.

Often referred to as a “pillar” in the corporation, Ms. Roiter has been operating as President and Chief Executive Officer since May 31, 2017. Prior to that, she was taking over the same positions but as an interim, as the previous leader of the corporation, Simon Patenaude had endured heart problems and unfortunately passed away on October 28, 2016, at the age of just 58.

As Ms. Roiter officially retires at the end of this May, the Crown corporation has informed that the soon-former CEO and President will receive a hefty retirement bonus. The gambling regulator will pay her CA$430,000 in severance payments as her four years term at the position comes to and according to the corporation, she is entitled to the same retirement severance as full-time senior government officials.

The Crown agency has officially announced that it has a replacement lined up in place. Her successor will be Jean-François Bergeron, who has plenty of experience in the field as he was the CEO of Société Québécoise du cannabis for two years. Mr. Bergeron will take over the company starting from June 1, 2021, and will have the difficult task of managing the corporation through the recent financial obstacles.

Described as the perfect candidate by Hélène F. Fortin, Mr. Bergeron will be heading the agency at one of its most turbulent spells in terms of finances. Since that company’s gambling properties have been largely affected by the unprecedented situation and the lockdown restrictions. In October 2020, the Crown corporation reported that revenue numbers divided by four.

No Solution

At the beginning of April Loto-Québec made an official statement regarding the fights against alleged illegal activities in the province’s casinos. The Crown stated that it is helpless against the supposed money laundering activities as it cannot refuse questionable individuals with access to the gaming properties. New measures are being considered such as declaring any huge amounts of cash transactions that have occurred.

Source: Ouellette-Vézina, Henri “The president of Loto-Québec will step down”, La Presse, April 14, 2021