Power Financial Corporation Announces Appointment of General Counsel and Corporate Secretary

WINNIPEG, MB, Aug. 3, 2012 /CNW Telbec/ - Power Financial Corporation (TSX: PWF) announces that its Board of Directors has approved the appointment of Mr. Stéphane Lemay as Vice-President, General Counsel and Secretary. Mr. Lemay also becomes media spokesperson for the Corporation.

Mr. Lemay joined Power Corporation of Canada (Power Financial Corporation's parent company) in 2005 as Vice-President, Assistant General Counsel and Associate Secretary and was appointed to the same position at Power Financial Corporation in 2009. Prior to joining Power, he held various executive legal and public affairs positions with companies in the telecommunications and manufacturing sectors. Mr. Lemay began his career as a lawyer in a Montreal-based national law firm.

Mr. Edward Johnson is stepping down as Senior Vice-President, General Counsel and Secretary, having passed the Corporation's normal age of retirement, and will assume other corporate duties within the Power group.

Mr. Johnson joined Power Financial in 1985 as Vice-President and Secretary. He was named General Counsel in 1986 and Senior Vice-President in 2005.

Mr. Lemay has also been appointed Vice-President, General Counsel and Secretary of Power Corporation of Canada.

Power Financial Corporation is a diversified management and holding company that has interests, directly or indirectly, in companies in the financial services sector in Canada, the United States and Europe. It also has substantial holdings in a diversified industrial group based in Europe. Power Financial Corporation is a member of the Power Corporation group of companies.

SOURCE: POWER FINANCIAL CORPORATION

Mr. Luc Reny 
Vice-President 
Tel: [phone]