Maple Leaf Foods Announces Changes to Board of Directors

News provided by

Apr 06, 2016, 04:30 ET

MISSISSAUGA, ON, April 6, 2016 /PRNewswire/ - Maple Leaf Foods (MFI: TSX) today announced that Mr. John L. Bragg and Mr. Claude R. Lamoureux will retire from the Company's Board of Directors at the Annual and Special Meeting of Shareholders on May 4, 2016. The Company also announced that Ms. Carol M. Stephenson O.C. and Mr. John A. Lederer have been nominated to join the board as independent directors and will stand for election at the Annual Meeting.

Mr. Lamoureux has been a director since 2008 and serves on the Audit Committee and the Human Resources and Compensation Committee. Mr. Bragg has served as a director since 2007 and is a member of the Audit Committee and the Safety and Sustainability (formerly Environment, Health and Safety) Committee.

"On behalf of the Board, I want to recognize the important contribution of Claude Lamoureux and John Bragg for the better part of the last decade," said David Emerson, Chairman. "During this time, Maple Leaf was transformed into a focused branded protein company, with competitive assets that will enable sustainable long term growth. They leave a strong, significantly more profitable company with an exciting future. I am very pleased Ms. Stephenson and Mr. Lederer have accepted nomination to the board as they will contribute valuable industry, strategy and governance expertise. Their nomination follows a selection process led by the Corporate Governance Committee of the Board with the assistance of a director recruitment firm."

Ms. Stephenson was the Dean of the Ivey Business School at Western University from 2003 to 2013. She was President and Chief Executive Officer of Lucent Technologies Canada from July 1999 to February 2003. Prior to this she held executive positons with Bell Canada, BCE Media and of Stentor Resource Centre, where she was CEO from 1993 to 1998. She is a director of General Motors Company, Ballard Power Systems Inc., Intact Financial Corporation and Manitoba Telecom Services Inc.

Mr. Lederer was the CEO of US Foods, Inc. a leading U.S. food distributor, from 2010 to 2015, and has served on its board of directors since 2010. From 2008 to 2010, he served as Chairman and CEO of Duane Reade, a privately held chain of retail pharmacies located primarily in the New York City area. Prior to Duane Reade, he spent 30 years at Loblaw Companies Limited, Canada's largest grocery retailer and wholesale food distributor. Mr. Lederer held a number of leadership roles at Loblaw, including President from 2000 to 2006. Mr. Lederer is also a director of The Walgreens Company and Restaurant Brands International Inc., a quick food service operator that includes Burger King and Tim Horton's chains.

Shareholders will vote for the election of directors at the upcoming shareholders meeting. For further information, shareholders are encouraged to read the 2016 Management Proxy Circular which is available on SEDAR and under the Investors menu at www.mapleleaffoods.com.

Maple Leaf Foods Inc. is a leading Canadian consumer protein company, making high quality, innovative products under national brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Schneiders Country Naturals® and Mina®. The Company employs approximately 11,500 people across Canada and exports to global markets, including the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI).

SOURCE Maple Leaf Foods Inc.