05:25 PM EDT, 05/14/2024 (MT Newswires) -- Saputo Inc. ( SAPIF ) , a global dairy processors, announced after trade Tuesday its plan for executive leadership succession.

Lino A. Saputo, Chair of the Board, President, and CEO, indicated to the Board of Directors his intention to transition from President and CEO to a role of Executive Chair of the Board. In this capacity, he will continue to provide oversight of the company's strategic development. The transition will take effect on August 9, 2024, the date of the company's upcoming Annual General Meeting.

As part of the transition, the Board of Directors announced the appointment of Carl Colizza, currently President and COO (North America), as the new President and CEO of Saputo Inc. ( SAPIF )