MONTREAL, March 28, 2018 /CNW Telbec/ – Supremex Inc. (“Supremex” or the “Company”) (TSX: SXP), a leading North American manufacturer and marketer of envelopes and a growing provider of packaging and specialty products, today announced the appointment of Guy Prenevost as Chief Financial Officer and Corporate Secretary effective April 16, 2018 and the nomination of Nicole Boivin and Steven P. Richardson as independent Directors upon their election at the Company’s upcoming Annual General Meeting to be held on May 9, 2018. The Company also announced that Stewart Emerson, President & CEO of Supremex, has informed the Company’s Board of Directors of his intention to sell 210,000 common shares held since 2006 for estate planning purposes.

Appointment of Chief Financial Officer

The Company appointed Guy Prenevost as Chief Financial Officer and Corporate Secretary effective April 16, 2018. Mr. Prenevost is a highly accomplished financial executive with more than 20 years of diversified experience in finance, sales and operations. He was most recently Chief Financial Officer of Rolland Enterprises Inc. and previously held various finance positions at Cascades Inc.’s Tissue Paper Products Division, including Director of Administration and Finance from 2007 to 2016. He also served as a member of the Board of Directors of Cascades USA Inc. and Best Diamond Packaging, LLC. He holds the CPA, CMA designation, earned his MBA from the Lally School of Management & Technology at Rensselaer Polytechnic Institute in Troy, NY, holds a Bachelor of Arts degree from the University of Alberta and Bachelor in Accounting Science degree from the University of Quebec at Trois-Rivières.

“I am very pleased to welcome Guy Prenevost to the role of CFO. His vast industry experience, deep financial expertise and operational background will quickly contribute as we continue diversifying our business and accelerating the growth of packaging products,” said Stewart Emerson, President & CEO of Supremex. “I would also like to thank Lyne Bégin, who acted as Interim Vice-President of Finance, for her unwavering dedication and commitment.”

Independent Board Nominations

Mathieu Gauvin will not be standing for re-election due to his recent appointment at the Caisse de dépôt et placement du Québec. Mr. Gauvin is the longest serving board member of Supremex, having served most recently from 2011 until present. Commenting on Mr. Gauvin’s decision not to stand for re-election, Robert B. Johnston, Chairman of the Board of Directors stated: “Mathieu has played an integral role in the development of Supremex and served steadfastly as Chairman of the Audit Committee. We wish him continued success in his role at the Caisse de dépôt et placement du Québec.”

The Board of Directors has nominated two new independent Directors to join the Board upon confirmation at the upcoming Annual General Meeting to be held on May 9^th in Montreal. Nicole Boivin and Steven P. Richardson have been nominated for election along with all current Directors other than Mr. Gauvin.

“We are pleased to welcome two new highly experienced independent Directors to the Board of Supremex. Their depth of expertise and corporate governance experience will further strengthen the Board and help support our dedicated management team as we continue executing our growth and diversification strategy,” said Mr. Johnston.

Nicole Boivin is a strategic advisor to boards and executives dealing with disruption, emerging technologies, M&A and changes in strategy. From 1999 to 2014, Mrs. Boivin held various executive positions with Manulife as the Global Chief Branding and Communications Officer and the Senior Vice President, Human Resources and Communication for the Canadian Division. She earned her MBA from Laurentian University and holds the ICD.D designation. Mrs. Boivin currently serves on the Boards of RES PUBLICA Capital and Brampton Distribution Holdco and previously served on the Boards of Ontario Power Generation, Pathways to Education and Harbourfront Centre. 

Steven P. Richardson is a Corporate Director and former Chief Financial Officer and Director of the Hudson’s Bay Company. He previously held the position of Chief Financial Officer at Wells Fargo Financial Canada and Chief Financial Officer and Director at Associates Financial Services of Canada and Beneficial Canada Inc. He holds the CPA, CMA designation, obtained his B.A. in Economics and Commerce with Honours from the University of Toronto, completed the Senior Executive Leadership Program at Columbia University and holds the ICD.D designation. Mr. Richardson is currently a Director of Parkland Fuel Corporation and was a Director of RONA Inc., Sterling Shoes and easyhome Ltd.

President & CEO Estate Planning Initiative

Stewart Emerson, President & CEO of Supremex, informed the Board of Directors of his intention to sell, over the next twelve months, all of the 210,000 common shares of Supremex he currently owns since 2006, for financial diversification and estate planning purposes.

These shares were received by Mr. Emerson in the context of the Company’s Initial Public Offering in 2006, when he exchanged compensation for Units of the Income Trust. Following the Income Trust’s conversion to a Corporation in 2011, these Units were converted into Common Shares of the Company. Mr. Emerson currently holds 29,993 Deferred Share Units and, as a member of the Board of Directors, intends to meet the Company’s Minimum Ownership Guidelines.

Annual General Meeting of Shareholders

Supremex will hold its Annual General Meeting of Shareholders on Wednesday, May 9, 2018 at 11:00am at  Fairmont The Queen Elizabeth Hotel in Montreal. During the event, management will provide a review of 2017 achievements and discuss its plan to continue strengthening Supremex’s position as a leading North American manufacturer of envelopes, packaging and specialty products.

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including (but not limited to) statements about the EBITDA and adjusted EBITDA and future performance of Supremex and similar statements or information concerning anticipated future results, circumstances, performance or expectations. Forward-looking information may include words such as anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, seek, should, strive, target and will. Such information relates to future events or future performance and reflects current assumptions, expectations and estimates of management regarding growth, results of operations, performance, business prospects and opportunities, Canadian economic environment and liability to attract and retain customers. Such forward-looking information reflects current assumptions, expectations and estimates of management and is based on information currently available to Supremex as at the date of this press release. Such assumptions, expectations and estimates are discussed throughout our MD&A for the year ended December 31, 2017.

Forward-looking information is subject to certain risks and uncertainties, and should not be read as a guarantee of future performance or results and actual results may differ materially from the conclusion, forecast or projection stated in such forward-looking information. These risks and uncertainties include but are not limited to the following: economic cycles, availability of capital, decline in envelope consumption, increase of competition, exchange rate fluctuations, raw material increases, credit risks with respect to trade receivables, increases in funding requirement of the Company’s pension plans, postal services deficiencies, interest rates fluctuations and potential risk of litigation. Such risks and uncertainties are discussed throughout our MD&A for the year ended December 31, 2017 and in particular, in “Risk Factors”. Consequently, we cannot guarantee that any forward-looking information will materialize. Readers should not place any undue reliance on such forward-looking information unless otherwise required by applicable securities legislation. The Company expressly disclaims any intention and assumes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

The Management Discussion and Analysis and Financial Statements can be found www.sedar.com and on Supremex’ website.

About Supremex

Supremex Inc. is a leading North American manufacturer and marketer of envelopes and a growing provider of packaging and specialty products. Supremex operates facilities across seven provinces in Canada and three facilities in the United States employing approximately 820 people. Supremex‘ growing footprint allows it to efficiently manufacture and distribute paper and packaging solutions designed to the specifications of major national and multinational corporations, resellers, government entities, SMEs and solutions providers. For more information, please visit www.supremex.com.

 

SOURCE Supremex Inc.

 

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