Richard Guay, president and CEO of the Caisse de dépôt et placement du Québec, has suspended his professional activities at the investment management institution for four weeks on the advice of his physician.

Guay informed Pierre Brunet, chairman of the Caisse, of his request on Nov. 12.

The board of directors accepted Guay’s recommendation that Fernand Perreault, executive vp, real estate, head the executive committee and co-ordinate the Caisse’s operations during that period.

“Mr. Perreault is the dean of the executive committee and is well versed in the Caisse’s current business. Its operations are continuing normally under his interim
management,” Brunet said in a release..

Brunet added that the institution’s priorities during this period of global market turmoil were clear and that the institution’s senior management had a full understanding of their objectives.

Brunet also indicated that Guay will resume his activities on Dec. 10.

The Caisse de dépôt et placement du Québec manages funds primarily for public and private pension and insurance plans. As at Dec. 31, 2007, it held $155.4 billion of net assets.