MONCTON, N.B., Nov. 26, 2014 /CNW/ - Imvescor Restaurant Group Inc. (the "Company") (TSX: IRG) announced today the appointment of Michael Forsayeth, Patrick H. Sugrue and Pierre A. Raymond to the Board of Directors (the "Board") of the Company, effective immediately. Mr. Forsayeth and Mr. Raymond have also been appointed, respectively, to the Audit and Risk Committee and to the Corporate Governance, Human Resources and Compensation Committee of the Board.
"We are very excited about Michael, Patrick and Pierre joining the Board" said Francois-Xavier Seigneur, the Chairman of the Corporate Governance, Human Resources and Compensation Committee. "Together, the new directors offer a compelling combination of business knowledge, leadership and operational insight, as well as significant financial reporting, legal and transactional expertise. Their presence and advice will be of great benefit to our management team", added Frank Hennessey, the President and Chief Executive Officer of the Company.
The Company also announced today that David Head had resigned from the Board due to the growing demands of his position as President and Chief Executive Officer of Primanti Brothers Restaurants. Mr. Head, who had joined the Board in July 2013, was a member of the Audit and Risk Committee and of the Corporate Governance, Human Resources and Compensation Committee. The Board wishes to extend its gratitude to Mr. Head for his valuable contribution to the Company and wishes him well in his future endeavors.
Michael Forsayeth is a financial executive with over 25 years of experience in a number of industries including real estate and property management as well as hospitality and foodservice. Mr. Forsayeth is currently Chief Financial Officer of Granite REIT, one of the ten largest North American publicly listed real estate investment trusts. Prior to that, Mr. Forsayeth was notably Chief Financial Officer of Intrawest Cayman LP and Cara Operations Limited. Mr. Forsayeth is a chartered accountant.
Patrick H. Sugrue is a business executive with extensive experience in the manufacturing, corporate and franchise retail, packaged goods and restaurant industries. Mr. Sugrue is currently President and Chief Operating Officer of Sofina Foods, a Markham, Ontario based privately held premium meats and deli company. Prior to that, Mr. Sugrue was notably President and Chief Executive Officer of Fearmans Pork Inc., a private equity owned pork processing business acquired by Sofina in 2010, and Chief Operating Officer of Honeybaked Ham Company.
Pierre A. Raymond retired in May 2014 from Stikeman Elliott LLP, a Canadian national law firm, where he was a partner in the Montreal office. Mr. Raymond's practice focused primarily on corporate finance and securities as well as public and private mergers and acquisitions. Mr. Raymond served as a member of Stikeman Elliott's Partnership Board and Executive Committee from 1997 to 2012 and as Chair of the firm from 2006 to 2012. Mr. Raymond is currently a corporate director and sits on the board of directors of Catalyst Paper Corporation (TSX: CYT) and of Pethealth Inc. (TSX: PTZ).
About Imvescor Restaurant Group Inc.
Headquartered in Moncton, New Brunswick, Imvescor Restaurant Group Inc. owns franchised and corporate restaurants throughout Canada under four brands: Pizza Delight®, operating primarily in Atlantic Canada, where it dominates the family/mid-scale segment, Mikes® and Scores®, operating primarily in Québec in the family and casual dining segments and the take-out and delivery segments, and Bâton Rouge®, operating in Québec, Ontario and Nova Scotia in the casual dining segment.
Cautionary Note Regarding Forward-Looking Statements
Certain information in this press release regarding the Company, including, but not limited to, the Company's business objectives, estimates, outlook, strategies and priorities, and other statements that are not historical facts, are "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements involve known and unknown risks, uncertainties and other factors outside the Company's control referenced in the Company's continuous disclosure filings which are available on SEDAR at www.sedar.com. Although the forward-looking statements contained herein are based upon what the Company believes to be reasonable assumptions on the date of this press release, the Company cannot assure readers that actual results will be consistent with these forward-looking statements and readers should not place undue reliance on the Company's forward-looking statements. The Company assumes no obligation to update such forward-looking statements to reflect new information, future events or otherwise, except as required by applicable securities laws.
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SOURCE: Imvescor Restaurant Group Inc.
For further information: Stéphane LeBlanc, Chief Financial Officer, Imvescor Restaurant Group Inc., Tel.: 514-341-5544, www.imvescor.ca