MONTRÉAL, Nov. 19, 2014 /CNW Telbec/ - Metro Inc. is announcing today that Réal Raymond will become Chair of the Board of Directors of Metro Inc. after the next annual general meeting of Shareholders on January 27, 2015, subject to his re-election as a director. Mr. Raymond will succeed Pierre H. Lessard, who will be retiring from the Board having reached the mandatory Board retirement age. Mr. Lessard will have served the Corporation for over 24 years, first as President and CEO from 1990 to 2008 and since then as Chair of the Board.
Paul Gobeil, Vice-Chair of the Board since 1990, will also retire from the Board after the next annual general meeting of shareholders having reached the mandatory Board retirement age.
"On behalf of the entire Metro team, I would like to thank Pierre Lessard and Paul Gobeil for their exceptional contribution to Metro's success. We will pay tribute to them at the next annual general meeting of shareholders," said Eric R. La Flèche, President and CEO of Metro.
Mr. Raymond joined the Board of Metro in 2008 and has been Lead Director of the Corporation and Chair of the Human Resources Committee since 2010. He is the former President and CEO of National Bank of Canada. He is a director and Chair of the Board of Heroux-Devtek Inc. and Aéroports de Montréal, and also serves on the Board of Directors of Sun Life Financial Inc.
Finally, Mr. John H. Tory, first elected in 2011, resigned from the Board following his election as Mayor of Toronto. We thank him for his contribution and wish him great success in his new public responsibilities.
More information on the next annual general meeting of shareholders of Metro Inc., including Board nominees, will be contained in Metro Inc.'s proxy solicitation circular which will be issued in December 2014.
With annual sales of over $11 billion in 2014, METRO INC. (TSX: MRU), founded in 1947, is the only major Canadian food distribution company to have its head office in Quebec. Along with its affiliates and franchisees, METRO INC. employs in Quebec and Ontario over 65,000 people, whose mission is to satisfy their customers every day and earn their-long term loyalty. METRO INC. operates a network of almost 600 food stores under several banners including Metro, Metro Plus, Super C and Food Basics, as well as over 250 drugstores under the Brunet, The Pharmacy and Drug Basics banners.
SOURCE: METRO INC.
For further information: Marie-Claude Bacon, Metro Inc., Senior Director, Corporate Affairs Department, [email protected], (514) 643-1086