Hugues Simon to succeed Mario Plourde as President and CEO of Cascades

KINGSEY FALLS, QC, May 16, 2024 /PRNewswire/ - Cascades Inc. (TSX: CAS) announces the appointment of Mr. Hugues Simon as its new President and CEO. Currently President of the Wood Products business at Resolute Forest Products, Mr. Simon will assume his new role no later than July 1, 2024. The appointment follows an extensive succession planning and recruitment process, supported by an international firm, in anticipation of Mario Plourde's planned retirement. After more than 11 years at the helm of the Company, Mr. Plourde will support the new President and CEO during a transition period lasting until December 2024, after which he will act as a Special Advisor.

A graduate in administration from the Université de Sherbrooke, Hugues Simon has over 30 years of experience in key positions in the manufacturing sector, including as President, of the Wood Products business at Resolute Forest Products. Previously, Mr. Simon was President of BarretteWood Inc., where he worked from 2012 to 2020.

"We are very pleased to announce the appointment of Hugues as President and CEO," said Patrick Lemaire, Chairman of Cascades' Board of Directors. "His extensive experience in leadership positions in the industrial products sector will be a great asset to the Company and to our customers. His track record demonstrates a deep commitment to operational excellence, and we have full confidence that his expertise and experience will contribute to Cascades' ongoing success and create value for our shareholders."

"It is with great humility that I am joining the team at Cascades, a company with both a rich history and deeply ingrained values. I am proud to join a company that is recognized as a pioneer in recycling and the circular economy committed to innovation and a client-centric approach, all of which is reflected in the quality of its products and its people," said Hugues Simon. "I look forward to working with all the employees and continuing the important work begun under Mario's leadership, ensuring the Company's long-term growth and value creation. I would like to thank Cascades' Board of Directors for their confidence."

"It is with great emotion that I am announcing my retirement after nearly 40 years at Cascades. It has been a great privilege to work with the Lemaire family and the entire Cascades team. I am leaving with the knowledge that the Company is in an excellent position as it embarks on this new chapter," stated Mario Plourde, President and CEO of Cascades. "I would like to thank the Board of Directors, the management team, our shareholders, and all our employees for their unwavering dedication. The time has come for me to pass the torch, and I am confident that Hugues' expertise and experience will enable him to successfully lead Cascades."

"On behalf of Cascades employees and the Board of Directors, I would like to thank Mario for his outstanding leadership over the past 11 years as President and CEO, and for his exceptional tenure at Cascades. Mario is a visionary who has contributed greatly to building Cascades into the company it is today. Under his leadership, the Company implemented an essential strategic refocus and modernized its asset base, management tools, and business processes. Several major projects were also successfully completed, including Cascades' largest investment ever: the Bear Island project in Virginia. Thanks to him, Cascades is well positioned for the future, and I am delighted to be able to continue to count on his experience during this transitional stage," added Mr. Lemaire.

Founded in 1964, Cascades offers sustainable, innovative and value-added packaging, hygiene and recovery solutions. The Company employs 10,000 talents across a network close to 70 facilities in North America. Driven by its participative management, half a century of experience in recycling, and continuous research and development efforts, Cascades continues to provide innovative products that customers have come to rely on, while contributing to the well-being of people, communities and the entire planet. Cascades' shares trade on the Toronto Stock Exchange under the ticker symbol CAS.

SOURCE Cascades Inc.