The Globe and Mail reports in its Friday edition that private equity investor Onex appointed Bobby Le Blanc as its new chief executive officer as shareholders approved a plan that will see founder Gerry Schwartz give up his voting control of the company after three years. The Globe's James Bradshaw writes that the proposal to put a sunset date on the multiple voting shares that assure Mr. Schwartz's control of Onex won overwhelming support from shareholders, with 98 per cent of subordinate shares voting in favour. An equal proportion of subordinate shares held by minority shareholders also voted for the change. After the vote passed, Mr. Schwartz, 80, stepped down as CEO, but will stay on as chair. Mr. Le Blanc has been at Onex for 23 years, most recently as president, and was announced as Mr. Schwartz's likely successor last year. Had Thursday's vote not passed, Mr. Schwartz had said he would stay on as CEO. For now, the company's founder still has control of Onex, but the dual-class shares through which he has steered the company for decades, and elected most of its directors, will expire in three years, converting Onex to a more conventional single-class share structure. Onex's share price rose in Toronto Thursday.