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Saputo announces transition plan to replace CEO

Saputo announces transition plan to replace CEO

Published on 05/14/2024 at 5:43 PMupdated on 05/14/2024 at 8:28 pm.

Saputo CEO Lino Saputo Jr. (Photo: Canadian Press)

Saputo (TSX:SAP) announced on Tuesday that its president and CEO, Lino A. Saputo, plans to leave his current position to assume the role of CEO of the company's board of directors.

The Montreal dairy processing company indicates that the transition will take effect on August 9, the date of the company's annual general meeting.

Mr. Saputo stated in a press release that his new role “will focus more on strategic oversight” of the company.

The company also announced that the position of President and CEO will be filled in August by Carl Kulesza, who is the current President and Chief Operating Officer of North America.

Mr. Colizza has worked at Saputo since 1998 and has held his current position since 2019.

Saputo explains that Mr. Coleza will continue to perform the duties of his current position beyond the transition period for the time being.

The company says Mr. Colizza's “strong record of service” and commitment to Saputo's core values ​​make him the ideal candidate to lead the company.

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