Blythe Masters: FNZ chief More than a third of the FNZ board has departed in a governance overhaul that saw two new directors associated with the firms’s main shareholder step into the breach. Under the board clear-out, five of the-then 14 FNZ Group directors resigned in June with the two newcomers, Denis Turcotte and Justin Shaw, also sitting as independent directors for Caisse de dépôt et placement du Québec (CPDQ). CPDQ, the Canadian pension giant, owns about 40 per cent of FNZ.