Peladeau to step down as Quebecor head

Pierre Karl Peladeau is stepping down as CEO of Quebecor Inc. to devote more time to family and philanthropy but ,the CBC reports, he will still have influence over the media and telecom company's corporate strategy.
Peladeau will remain as chairman of its main subsidiary, Quebecor Media. That division includes newspapers hit by weak advertising and recent layoffs and will require some of his attention.
Peladeau said he will provide advice and leadership on strategic projects "vital" to the company, but also cited family and philanthropy as reasons for stepping down.
"Because one cannot be a part-time CEO, I have decided to retire from this position and devote my life to other pursuits," he told a conference call after the company released its quarterly results Thursday.
His executive duties are taken over by Robert Depatie, who has been president and CEO of Quebecor's Videotron cable and telecom service since 2003.