CANADA – Saputo, a Canadian dairy company founded by the Saputo family, has announced a significant leadership transition.

Lino Saputo Jr., who has served as CEO for over two decades, will be relinquishing his role in August and will also vacate the positions of president and chairman of the board, transitioning to the role of executive chair.

In addition, the announcement of Saputo Jr.’s successor comes as Carl Colizza, the current president and chief operating officer of Saputo’s North America business division, is named as the company’s new president and CEO.

Colizza, a seasoned leader within Saputo with a tenure dating back to 1998, brings a wealth of experience to his new role. His leadership and strategic vision have been instrumental in the company’s growth and success.

The transition reflects Saputo Jr.’s confidence in Colizza’s abilities, citing him as “an extraordinary business leader” with a proven track record within the company.

“Carl is an extraordinary business leader who is well-respected across our industry and has a strong track record of leading global teams,” the outgoing CEO added.

“He has deep roots within Saputo and has played a pivotal role in developing our strategy and improving our business.”

According to a statement from the company, Colizza moved into his current dual responsibilities in 2019 having served as president and COO of the Canada business unit since 2015.

Following the management shift, he will remain president and COO for North America for the time being.

The leadership transition coincides with Saputo’s upcoming annual results announcement for the 2024 fiscal year, scheduled for June 7.

In a statement, Saputo Jr. outlined the company’s focus on operational excellence, cost containment, and cash flow generation to stabilize the business amidst ongoing challenges.

He expressed confidence in Saputo’s ability to overcome obstacles and deliver value to shareholders.

He added that, despite recent financial challenges, including a loss in the third quarter attributed to an impairment charge related to the Australia dairy division, the company remains committed to long-term success.

He emphasized the company’s resilience in navigating a dynamic macroeconomic environment marked by inflation and commodity price volatility.

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