Bobby Le Blanc on Thursday was appointed CEO of alternative investment firm Onex, replacing founder Gerry Schwartz, who remains as chairman, according to a news release.
Mr. Le Blanc had been president and was named CEO following a shareholder vote approving a shorter three-year sunset provision for Mr. Schwartz's controlling shares in Onex from five-years. The shares will sunset even if Mr. Schwartz is still chairman.
Zev Korman, Onex spokesman, could not be immediately reached for information on who will replace Mr. Le Blanc as president.
Onex has $51 billion in assets under management.