MISSISSAUGA, ON, April 5, 2019 /CNW/ - Maple Leaf
Foods Inc. ("Maple Leaf Foods" or the "Company") (TSX: MFI) today
announced that the Honourable David L. Emerson, Chair of the Board
has decided to retire from the Board of Directors as of the
upcoming Annual and Special General Meeting to be held on
May 2, 2019 (the "Meeting").
Mr. Emerson was appointed Chair of Maple Leaf Foods immediately
after he was first elected to the Board of Directors in
May 2012, bringing with him extensive
experience in Canada's public and
private sectors, including his roles with the Government of
Canada as Minister of Foreign
Affairs, Minister of International Trade, and Minister of Industry.
"David joined the Board at a critical juncture in the Company's
development," said Mr. Michael
McCain, President and CEO. "He led the Board's oversight of
the successful completion of Maple Leaf's prepared meats business
supply chain transformation, as well as the reorganization of our
business operations, including the divestiture of our rendering
operations and bakery industry investments. My fellow directors and
I have the highest regard for David's leadership and are honoured
to have served with him."
With Mr. Emerson's decision to retire, Maple Leaf Foods is
putting forward the remaining nine incumbent directors for
re-election to the Board of Directors at the Meeting. Immediately
after the Meeting, the Board anticipates appointing Mr. W.
Geoffrey Beattie as Chair of the
Board. "In anticipation of my retirement from the Board, the
directors considered succession for the position of Chair and
determined Mr. Beattie's combination of experience, leadership and
knowledge of the Company make him an excellent choice," said Mr.
Emerson.
Mr. Beattie, who has served on the Board of Maple Leaf Foods for
the last 10 years, is Chief Executive Officer of Generation Capital
and Chair of Relay Ventures. He is also a Director of the General
Electric Company, Baker Hughes, a GE Company and Fiera Capital
Corporation, and was previously a Director of Royal Bank of
Canada and Acasta Enterprises Inc.
Mr. Beattie previously served as Chief Executive Officer of The
Woodbridge Company Limited from 1998 through 2012. Prior to that,
Mr. Beattie was a partner in the Toronto office of the law firm Torys LLP and
was a Vice President at Wood Gundy from 1987 to 1990.
Shareholders will vote for the election of directors at the
Meeting. Maple Leaf Foods will also be continuing to advance its
Board succession process under the direction of the Compensation
and Governance Committee, including the identification and
recruitment of additional outstanding candidates to join the Board.
For further information, shareholders are encouraged to read the
2019 Management Proxy Circular which will be available on
SEDAR and under the Investors section
at www.mapleleaffoods.com.
About Maple Leaf Foods Inc.
Maple Leaf Foods Inc. ("Maple Leaf Foods") is a producer of food
products under leading brands including Maple Leaf®, Maple Leaf
Prime®, Maple Leaf Natural Selections®, Schneiders®, Schneiders®
Country Naturals®, Mina®, Greenfield Natural Meat Co.™, Lightlife™,
Field Roast Grain Meat Co.™ and Swift®. Maple Leaf Foods employs
approximately 12,000 people and does business in Canada, the U.S. and Asia. The Company is headquartered in
Mississauga, Ontario, and its
shares trade on the Toronto Stock Exchange (MFI).
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SOURCE Maple Leaf Foods Inc.