Maple Leaf Foods announces organizational changes as the next step in sharpening its competitive edge

MISSISSAUGA, ON, Jan. 30, 2025 /PRNewswire/ - Maple Leaf Foods Inc. ("Maple Leaf Foods" or the "Company") (TSX:MFI), an iconic Canadian protein company, announced today new executive appointments accompanied by further changes to its organizational structure. With these changes, the Company has completed the realignment of its commercial and operations teams to support the execution of its refreshed strategic Blueprint that was unveiled last year.

"Since bringing our meat and plant protein businesses together under a consolidated protein strategy last year, we have been intensely focused on delivering on our full potential as a Consumer Packaged Goods powerhouse," said Curtis Frank, President and Chief Executive Officer of Maple Leaf Foods. "Our efforts are anchored in the strength of our leading brands, leadership in sustainability, expanding our geographic reach, and leveraging our diversified protein portfolio to meet consumer demand - all underpinned by elevating our cost reduction focus and achieving operational excellence.

Mr. Frank continued, "With the stage set for 2025 to be a transformational year, we are advancing our Fuel for Growth initiative, with the prime objective of putting the structures in place for success, including streamlining our leadership team, creating clear accountabilities, and sharpening our competitive edge." 

As part of the restructuring, the Company has reduced the size of its top two layers in the company and also announced the following changes to its Senior Leadership Team:

• Mike Yang will be joining Maple Leaf Foods as Chief Supply Chain Officer effective February 3, 2025. Mr. Yang has an impressive track record of leading manufacturing transformation and modernization initiatives, having held senior roles at Kruger Products, Noramerica International Corporation, Irving Consumer products and Kimberly Clark Corporation. He will replace Iain Stewart, who previously announced his retirement effective May 2025 after a more than 35-year distinguished career at Maple Leaf Foods.
• Josh Kuehnbaum, a highly experienced leader with over twenty-five years at Maple Leaf Foods, and a proven track-record of building strategic and enduring customer relationships, has taken on the role of SVP, Customer Business Development (Canada), consolidating responsibility for all Canadian Retail and Foodservice sales under a single leader.
• Ryan Walker, a veteran Maple Leaf Foods leader having held roles in operations and business development in Canada and the US, has taken on the role of SVP, Poultry. He replaces Ben Brooks who previously announced his retirement effective May 2025 after an impressive 21-year career at Maple Leaf Foods, the last 10+ years leading the Company's Poultry business including leadership roles in the poultry processor associations.

"I am deeply grateful to Iain and Ben for their invaluable contributions to our organization and their dedication to ensuring a seamless transition over the coming months as Mike and Ryan step into their new roles," said Mr. Frank. "I also want to extend my congratulations to Josh, Ryan, and Mike on their well-deserved appointments. I am confident that we have the right team in place to capitalize on our playbook for profitable growth while unlocking our full business potential"

About Maple Leaf Foods Inc. Maple Leaf Foods is a leading protein company responsibly producing food products under leading brands including Maple Leaf®, Maple Leaf Prime®, Maple Leaf Natural Selections®, Schneiders®, Mina®, Greenfield Natural Meat Co.®, LightLife® and Field Roast™. The Company employs approximately 13,500 people and does business primarily in Canada, the U.S. and Asia. The Company is headquartered in Mississauga, Ontario and its shares trade on the Toronto Stock Exchange (MFI).

Forward–Looking Statements

This document may contain "forward-looking information" within the meaning of applicable securities law.  These statements are not guarantees of future events and involve assumptions and risks and uncertainties that are difficult to predict.  Some of these assumptions and risks and uncertainties are described in more detail in the Company's filings made with the securities regulatory authorities in Canada which are available on SEDAR+ at www.sedarplus.ca. Actual results may differ materially from those expressed, implied or forecasted in such forward-looking information. Maple Leaf Foods does not intend to, and Maple Leaf Foods disclaims any obligation to, update any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Maple Leaf Foods Inc.