Pierre Lassonde
| Pierre Lassonde | |
|---|---|
| Born |
April 17, 1947 Saint-Hyacinthe, Quebec, Canada. |
| Nationality | Canadian |
| Alma mater |
École Polytechnique de Montréal University of Utah |
| Spouse(s) | Claudette MacKay-Lassonde (1970-2000) deceased; Janelle Muntz Lassonde (2002- ) |
| Children | 3 |
Pierre Lassonde, CM, OQ, born in Saint-Hyacinthe, Quebec in 1947, is a Canadian businessman and philanthropist.
Pierre Lassonde was born in St-Hyacinthe, Quebec, the third child of four. He studied at the Séminaire de Saint-Hyacinthe and graduated in 1967 with a Bachelor of Arts. He then attended the École Polytechnique de Montréal in Montreal, graduating with a B.Sc in Electrical Engineering in 1971. He attended the University of Utah and received his MBA in 1973. He earned his CFA designation in 1983.
After receiving his MBA from the University of Utah, he joined the Mining and Metals Division of Bechtel, based in San Francisco, California. In 1977, he accepted a position in the Strategic Planning Dept. of Rio Algom in Toronto, Ontario. He joined Beutel, Goodman & Company Ltd., a leading Institutional money management firm in 1980 as mining analyst and precious metal portfolio manager. There he managed the very successful Dynamic Gold Fund for a period of 10 years.
In 1982, he co-founded, along with his business partner Seymour Schulich, Franco-Nevada Corporation, the first publicly traded gold royalty company. In 1985, Franco-Nevada acquired for US$2 million a royalty on a small mining operation in the heart of the Carlin gold belt of Nevada. Two years later, the property was acquired by Barrick Gold, who discovered the world class Goldstrike deposit. From inception to February 2002 when the company was sold to Newmont Mining for US$3.2billion, Franco-Nevada provided its shareholders a 36% annualized rate of return.
Lassonde served as President of Newmont Mining Corp. from February 2002 to 2007 and Vice-Chairman in 2007.
In 2008, Lassonde revived Franco-Nevada by joining forces with David Harquail and the rest of the original Franco-Nevada team to acquire Newmont’s royalty portfolio. The born-again Franco-Nevada became the largest mining IPO (Initial Public Offering) ever offered on the TSE (Toronto Stock Exchange) at that time. Lassonde holds the position of Chairman of the Board of the new Franco-Nevada. The success story continues, as the market capitalization of the company today is more than $7 billion.
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