The Caisse de Depot has renewed Michael Sabia's contract as president and CEO.

First appointed in 2009 under Premier Jean Charest's term of office, Sabia will continue to be CEO and president until March 31, 2021.

In the past year the Caisse has launched a plan to build a new transit network in Montreal, and in a statement Sabia said he was glad to be able to continue to oversee this project.

Last year Sabia was named to the Order of Canada for his leadership and entrepreneurial spirit.

The Caisse holds approximately $255 billion in assets.