In 2011, after raising her three children, Marie-Josée Privyk returned to the workforce to fulfill a longstanding dream of becoming an investor relations officer. Privyk spent 11 years as a sell-side analyst and later ran her own freelance financial translation business, but she always believed that IR would suit her well, a hunch that has proven true in two years as Director of Investor Relations at Innergex Renewable Energy, Inc., in Longueuil, Quebec.

Like many IROs, Privyk has found that marrying knowledge of financial analysis with an interest in communications is a perfect professional combination. “There’s more to communication than meets the eye,” she says. “Communication is very strategic. Our job [as IROs] is to preserve and enhance the reputational capital of the firm by doing what we say, saying what we do, and being as accurate, complete and timely as possible.”

Getting Up to Speed

To master the finer points of IR, Privyk joined CIRI shortly after starting at Innergex. She praises the organization “for representing [IROs] very well,” and is especially grateful to have participated in CIRI’s mentorship program and been paired with Jennifer McCaughey, President of CIRI Quebec.

At Innergex, an independent power producer relying solely upon renewable energy resources, Privyk is enthusiastic about deepening her industry knowledge. She points out that Innergex mainly uses hydroelectric power, but also has wind and solar farms. “What’s key to doing this job is knowing the company inside out,” she says. “That takes time, and the more complex the company or industry, the longer it takes.” 

Privyk emphasizes that a central part of her company’s strategy is its ability to reduce risks. Securing long-term power purchase agreements allows Innergex to eliminate the traditional pitfalls that capital-intensive businesses encounter from losing customers or from spot-market fluctuations in the price of electricity.

From the start, Privyk notes that Innergex has had many large financial institutions as investors – and these investors have stayed with the company. She estimates that three-quarters of the shareholder base is institutional with the remaining quarter retail.

Past work as a financial analyst at a number of firms, including National Bank Financial and Marleau, Lemire Securities Inc., helps Privyk communicate effectively with her institutional audience. She also jokes that she “never left school.” After receiving her B. Comm. degree from McGill University, she became a CFA. More recently, she participated in the certified training program for the Global Reporting Initiative and earned her Sustainable Investment Professional certification from Concordia University last January.

Outside of work, Privyk continues to expand her knowledge of subjects that interest her by reading nonfiction books about renewable energy and macroeconomics. She also enjoys yoga, having dinner with friends, walking her dog (a poodle-schnauzer mix), and an occasional glass of wine.

A Good Story Tells Itself

At Innergex, Privyk is very proud of the 2012 annual review, which is a stand-alone document separate from the financial statements and MD&A. She believes that the annual review offers a qualitative perspective on the company that aptly reflects Innergex’s business philosophy and values.

Privyk seizes all opportunities to highlight the quality of Innergex’s business. “If your strategy, management, and execution are sound and you have a conviction about doing the right thing, telling the story becomes much easier,” she says. “A company should never lose sight of the fact that it is first and foremost there to run its business and to create value and not get too distracted by the daily changes in the stock market.”

She is critical of the short-termism that too often grips financial markets. “If a company has a good story, it’s because the facts are good,” she concludes. “IR is there to give the facts, and the facts will then speak for themselves.”