NFI Announces Return of President and Chief Executive Officer Paul Soubry
July 28 2022 - 7:15AM
(TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc.
(“NFI” or the “Company”), a leading independent bus and coach
manufacturer and a leader in electric mass mobility solutions,
today announced that NFI President and Chief Executive Officer Paul
Soubry will return to his role, effective August 2, 2022, following
a temporary medical leave. Paul will participate in NFI’s 2022 Q2
financial results call on August 3, 2022.
On May 3, 2022, it was announced that Paul would
be taking an immediate temporary medical leave of absence after
being diagnosed with an aortic aneurysm, and that NFI’s Board of
Directors (the “Board”) had appointed Brian Dewsnup, President of
NFI Parts, to be acting President and Chief Executive Officer of
NFI Group during Paul’s absence.
Mr. Soubry has been cleared by his doctor to
return to work. Under the guidance of his healthcare team, Mr.
Soubry has taken active steps to address his health, and a plan is
in place going forward to ensure his continued wellbeing.
“It is great to be back at the helm of NFI as we
prepare to scale up our production to capitalize on our growing
backlog and strong order activity. While certain supply and parts
availability challenges continue to impact NFI, our team’s
production and delivery plans are advancing well, which we will
discuss in detail during our second quarter results call,” said
Paul Soubry, President and Chief Executive Officer, NFI. “I want to
thank my fellow Board Directors, Brian Dewsnup, and the entire NFI
executive team for their leadership during my absence, and the
entire NFI team for their continued dedication to our mission of
leading the ZEvolution to electric mobility.”
"I am thrilled to see Paul's dedication to his
healthcare plan and the progress he has made in such a short period
of time. I welcome him back to his role and look forward to working
closely with Paul as NFI executes on its strategic initiatives and
delivers upon its financial targets in both the near- and
long-term," said Brian Tobin, P.C., OC, Chair of NFI's Board. "On
behalf of the Board, I want to extend sincere gratitude to the
entire NFI management team, with particular thanks to Brian Dewsnup
for taking on the interim leadership role during Paul's
absence."
About NFI
Leveraging 450 years of combined experience, NFI
is leading the electrification of mass mobility around the world.
With zero-emission buses and coaches, infrastructure, and
technology, NFI meets today’s urban demands for scalable smart
mobility solutions. Together, NFI is enabling more livable cities
through connected, clean, and sustainable transportation. NFI also
operates the Vehicle Innovation Center (“VIC”), the first and only
innovation lab of its kind dedicated to advancing bus and coach
technology and providing workforce development. Since opening late
2017, the VIC has hosted over 300 interactive events, welcoming
5,000 industry professionals for electric vehicle (“EV”) and
infrastructure training.
With 7,500 team members in nine countries, NFI
is a leading global bus manufacturer of mass mobility solutions
under the brands New Flyer® (heavy-duty transit buses), MCI® (motor
coaches), Alexander Dennis Limited (single and double-deck buses),
Plaxton (motor coaches), ARBOC® (low-floor cutaway and medium-duty
buses), and NFI Parts™. NFI currently offers the widest range of
sustainable drive systems available, including zero-emission
electric (trolley, battery, and fuel cell), natural gas, electric
hybrid, and clean diesel. In total, NFI supports its installed base
of over 105,000 buses and coaches around the world. NFI’s common
shares trade on the Toronto Stock Exchange (“TSX”) under the symbol
NFI and its convertible unsecured debentures trade on the TSX under
the symbol NFI.DB. News and information is available at
www.nfigroup.com, www.newflyer.com, www.mcicoach.com,
www.nfi.parts, www.alexander-dennis.com, www.arbocsv.com, and
www.carfaircomposites.com.
For inquiries, please contact:Stephen KingP:
204.224.6382Stephen.King@nfigroup.com
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