Billionaire Separatist Leader Pierre Karl Péladeau Is Stepping Down

    PKP tearfully quits as leader of the Parti Quebecois.

    Pierre Karl Péladeau is leaving politics less than a year after becoming leader of the separatist Parti Québécois.

    Péladeau's political career was short and surreal. The billionaire owner of Quebecorp Inc., which once owned the Sun newspaper chain and Sun TV network, first entered politics two years ago as a star candidate for the Parti Québécois.

    His unveiling was followed by some awkward moments.

    After the party lost to the Liberals in the 2014 Quebec election, Péladeau won the PQ leadership last May.

    So why is he stepping down less than a year after becoming leader? Péladeau cited family issues at his press conference but wasn't specific.

    One day earlier, Péladeau's ex-wife went on the popular talk show Tout le monde en parle and opened up about Péladeau's job making it difficult to raise their children. Péladeau also demoted his chief of staff one week ago.

    UPDATE

    CTV is reporting that Péladeau is quitting politics over a custody battle.

    A #PQ source confirms @PKP_Qc is quitting over the custody of his children, who are part of mediation talks in his divorce @CTVMontreal