SHERBROOKE, QC, Nov. 20 /CNW Telbec/ - Shermag Inc. (TSX: SMG) today
announced that Jeffrey Casselman has resigned as President and Chief Executive
Officer of the Company effective immediately.
The Board of Directors has undertaken a process to replace Mr. Casselman
and the day to day affairs of the Company will be managed by an executive
committee of management with the guidance of a committee of the Board of
Directors until the completion of such process. Claude Pichette, Chairman of
the Shermag Board of Directors, commented on the formation of the committee,
saying "The Board will become more active in the administration of the
Company, as it transitions to permanent new leadership. The daily operation of
Shermag will not be affected, and we have every confidence that efforts made
over the course of the next few months will be beneficial to the Company in
the long term".
Shermag Inc., headquartered in Sherbrooke, Québec, is a leader in the
design, production, marketing and distribution of high-quality residential
furniture. The Company employs approximately 1,100 people and is a vertically
integrated manufacturer and importer with its own cutting rights, sawmill,
veneer facility, manufacturing operations and global sourcing division.
For further information:
For further information: Shermag Inc., (819) 566-1515