Changes to Transcontinental’s senior management

The Board of Directors of Transcontinental Inc. (TSX: TCL.A TCL.B) (“Transcontinental” or the “Company”) announces that François Olivier will retire from the Company. He will be leaving his functions on December 9, 2021, after 28 years with the Company, including 13 years as President and Chief Executive Officer. Peter Brues, a member of Transcontinental’s Board of Directors since 2018 and Chair of the Audit Committee, will succeed him as President and Chief Executive Officer. Mr. Brues will join the organization as of November 1st and will work with François Olivier during a transition period. He will officially assume his duties on December 10th. Mr. Brues’s appointment is the culmination of a rigorous succession planning process led by the Company’s Human Resources and Compensation Committee.

“The Board of Directors wishes to acknowledge the exceptional contribution of François Olivier to Transcontinental and to highlight his remarkable career that featured many strategic and significant achievements for Transcontinental,” said Isabelle Marcoux, Chair of the Board of Directors. “His innovative vision, decisive leadership and business skills have helped propel Transcontinental to its position as a leading flexible packaging company in North America and the largest printer in Canada. We sincerely thank François for his invaluable contribution to the growth, diversification and transformation of Transcontinental over the years.”

“After 28 years with Transcontinental, I am departing with confidence and pride, leaving behind a solid, successful and responsible company that is well positioned to pursue its evolution and strategic vision,” said François Olivier. “I am particularly grateful to the employees who, through their exceptional commitment and hard work, contribute to Transcontinental’s success each and every day. It has been a privilege to serve as President and I would like to extend my warmest thanks to the Board of Directors, customers, shareholders and the Marcoux family for their confidence over the years.”

“The Board of Directors is also pleased to welcome Peter Brues as President and CEO,” said Isabelle Marcoux. “A member of Transcontinental’s Board of Directors since 2018, he is already fully committed to Transcontinental’s vision and has in-depth knowledge of all our sectors of activity. His extensive business experience, his expertise in manufacturing, particularly in the packaging sector, and his human leadership are tremendous assets that will permit him to strategically and profitably exploit Transcontinental’s most promising market opportunities, continue to foster its responsible growth and shape its future prospects.”

“I am pleased to be more deeply involved in an organization that is growing fast worldwide and enjoys an excellent reputation,” said Peter Brues. “I would like to thank the Board of Directors for their confidence in me and look forward to working with the management team to ensure Transcontinental’s continued success and the creation of sustainable shareholder value.”
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