Saputo Announces Transition Plan for President and CEO in August
Saputo, one of the largest dairy companies in the world, has announced a transition plan for its President and CEO, Lino A. Saputo Jr. The plan, which will take effect in August, will see Mr. Saputo Jr. step down from his role as President and CEO and transition to the position of Vice Chairman of the Board of Directors.
The decision to transition Mr. Saputo Jr. to the role of Vice Chairman was made by the Board of Directors after careful consideration and planning. The company’s current Chief Operating Officer, Kai Bockmann, will take over as President and CEO, while remaining a member of the Board of Directors.
Mr. Saputo Jr. has been with the company for over 30 years, serving as President and CEO since 2004. Under his leadership, Saputo has grown into a global dairy powerhouse, with operations in over 50 countries and annual revenues of over $14 billion.
In a statement, Mr. Saputo Jr. expressed his confidence in Mr. Bockmann’s ability to lead the company into the future. He stated, “I have full confidence in Kai’s leadership and vision for the company. He has been an integral part of our success and I am certain that he will continue to drive our growth and success in the years to come.”
Mr. Bockmann, who has been with Saputo since 2001, has held various leadership positions within the company, including President and Chief Operating Officer of Saputo’s North American division. He brings a wealth of experience and knowledge to his new role as President and CEO.
The transition plan is part of Saputo’s ongoing commitment to succession planning and ensuring a smooth transition of leadership. The company’s Board of Directors is confident that this plan will allow for a seamless transition and continued success for the company.
In conclusion, Saputo’s transition plan for its President and CEO is a strategic move that reflects the company’s commitment to strong leadership and continued growth. With Mr. Saputo Jr. remaining as Vice Chairman and Mr. Bockmann taking over as President and CEO, the company is well-positioned for a successful future.
