June 17, 2025
Two stories, a converging path
This is the story of two families united by a shared set of values. One left Haiti to escape a political regime. The other settled in Saint-Léonard and built a successful business in the borough of Saint-Michel. Forty years later, a friendship between two members of these families that began in CEGEP would be the impetus for a program developed at HEC Montréal to support Black business leaders. How does this story play out? Read on!
Wils Theagene’s family arrived in Montreal when he was six years old. He was one of eight children who would grow up in Laval. “My mother spent her entire life not knowing how to read or write,” he recounts. His upbringing may have been modest, but it was rich in values. “Values like respect, integrity and the importance of pushing yourself to do better.”
After he finished school, Wils quickly became aware that the colour of his skin influenced how people saw him. “This isn’t an imaginary thing. It’s something that people still experience, even today.” He forged ahead, despite the obstacles. But he never forgot how his parents were perceived. “Their financial status and lack of formal education were looked down on.”
Giving back to the community
Éric Deschênes’s life was also shaped by a profound connection to his family roots and his own vision of a more inclusive world, which influenced him in his thoughts and actions from a very young age.
“When my father took over the reins of the family company, we were living in an unassuming home in Saint-Léonard. When the business took off, my father floated the idea of moving to a more affluent neighbourhood. My brother François [the current President and CEO of Deschênes Group] and I were insistent that we wanted to stay in Saint-Léonard. We wanted to be part of a bigger community. We wanted to remain true to our roots and our values.”
Their reaction wasn’t a surprise to the family patriarch. “My father was a simple, humble man. It was natural for him to include all sorts of workers in the business, even women at a time when it wasn’t the norm. It’s just part of who we are as a family and as entrepreneurs.”
From CEGEP to HEC Montréal
In the mid-1980s, Wils and Éric attended the same school, Cégep Marie-Victorin, in Montréal-Nord. It wasn’t long until they became friends, and a school canoe camping trip sealed the deal. Like many college pals, however, they lost touch after they moved on to the next stages of their lives.
But destiny – and HEC Montréal! – would make sure they would reconnect in early 2024, this time to embark on a whole new adventure together. An adventure of inclusivity, generosity and a new program that is as innovative as it is urgently needed.
Québec “Inc.-lusion”
Wils was determined to bring agency to underrepresented groups in economic spheres. As he advanced in his own career, he had made it a point to create an investment environment that made it easier for Black-led organizations to start up and flourish.
Armed with a bachelor’s degree in chemical engineering from Polytechnique Montréal and a master’s degree in finance, Wils initially made his mark at such prominent organizations as Bombardier, 3M and Hydro-Québec. He then spent six years (2017–2023) at the Caisse de dépôt et placement du Québec (CDPQ), where he spearheaded the creation of an investment fund and a venture capital fund aimed at small and mid-sized businesses in Quebec. He took advantage of this forum to develop and implement an investment model targeting businesses led by underrepresented owners. Thus was born the Équity 253 investment fund dedicated to leveraging diversity and inclusion.
Putting words into action
These experiences informed Wils’ journey and spurred him onward. In 2023, he founded Citadelle Capital. “The idea was to create an entire investment chain focused on the Black community, with an emphasis on financial education and mentoring to help build prosperous businesses in opportunity-deprived communities.”
Fast forward to early 2024. As his fund hit the market, Le Devoir published a profile of Wils, shining the spotlight on how the son of Haitian farmers became a top executive at CDPQ. Éric spotted the article and was delighted to learn what his former schoolmate was up to. Éric’s own path had led him back to a board position with the family business, which had grown to include a workforce of 3,800 employees working at 230 points of sale across Canada.
Wils’ vision and aspirations struck a chord with Éric, who decided to reach out to his old friend. His intention? To find out if he could help him achieve his goals. “So I gave him quite a challenge to take on!” laughs Wils.
A shared vision, a shared set of values
Éric remembers the day they met up again for the first time in years. “We reminisced about our school days, of course, but then I really wanted to understand what he was looking to do. I was all in right away. We had a similar take on a lot of things, including the need to develop training programs that addressed the needs of underrepresented communities more effectively.”
Wils is categorical in his stance in this regard: “Investing in future leaders from underrepresented communities isn’t a matter of charity. It’s a real opportunity in terms of business development and economic growth. Investments like these are both strategic and beneficial for Quebec as a whole.”
“In Quebec, we don’t have enough people from underrepresented communities leading our small and medium-sized enterprises. It’s not that they lack talent or skill. They just don’t have access to the opportunities.”
For Éric, being open to and accepting of diversity in all its forms has been a source of inspiration at every stage of his life. Which is one of the reasons he ended up working in international cooperation for a while and, in 2016, joined the advisory committee of HEC Montréal’s Deschênes | Molson | Lesage Family Business Centre. This mindset has also led him to contribute to the programs offered by First Nations Executive Education, another initiative of HEC Montréal.
Éric’s thoughts about why “some people are automatically rejected by others who don’t even know them” had stayed with him since his time in school. So much so that advocating for immigrant and LGBTQ communities had become part of his identity.
“We need to be open-minded and refuse to pigeonhole anyone. Every community deserves to have a space, including a space in the business world.”
He shares that Wils’ experiences have only amplified these feelings. “What really got to me was to see how difficult it can be for some communities to scale their business. I started to wonder if ‘Québec Inc.’ was some sort of exclusive club, where businesses with the potential to grow and contribute to the economy are hindered in their development because of some unspoken rule.”
Creating more inclusive leadership opportunities
The pair’s respective stories and thought processes reflect a general trend in Quebec to reach out and include underrepresented communities and groups. It remains, however, that true inclusion is contingent on economic participation. This is still a work in progress.
As an exercise, Wils encourages people to close their eyes and try to come up with the names of Black leaders who are at the head of a major Quebec organization — the kind of organization that generates wealth and inspires the public, and whose brand evokes success, strength and vision. How many names come to mind?
This is the motivation for forging new ties through Executive Education HEC Montréal, with the launch of a comprehensive five-day program aimed at Black leaders. In the words of Michelle Vaillancourt, Director of Communications and Programs at Executive Education HEC Montréal, “We are honoured to be able to contribute our skills development expertise and jointly craft this leadership, strategy and management program in order to support leaders and meet their specific needs.”
A strategic investment
Struck by the barriers facing these communities and the lack of tools at their disposal, Éric is sure of one thing: investing in people is the best investment he could make. “Embracing the differences that make the social fabric that binds us together is essential if we are to transcend boundaries and overcome barriers.”
That’s why he is doing his part to facilitate a portion of the funding needed to get this certification program up and running. He will also be sharing his expertise. Wils will serve as the co-director of the program, which he emphasizes offers much more than just training. “It’s a strategic initiative to reduce systemic inequalities, propel Black leaders to success and generate a positive and lasting impact.”
HEC Montréal’s Ideos Social Impact Hub will oversee the academic leadership of the program. Ideos Director Luciano Barin Cruz feels that Executive Education HEC Montréal has a responsibility to build an inclusive and dynamic entrepreneurial ecosystem. “Being involved in this program was a definite yes for me. I firmly believe that leadership and business strategies are something everybody should have access to, no matter who they are or where they come from.”
The next steps promise to be as exciting, as powerful and as life-changing as that week-long canoe camping trip back in the day. A journey that will lead us all forward. Together.
➲ Learn more about the Certification in Strategic Management and Leadership.