Maple Leaf Foods has announced plans to “streamline” its management structure in a bid to improve operating margins following the sale of its majority-owned bakery business, Canada Bread.
President and CEO Michael McCain said the company intends to boost the profitability of its branded packaged consumer meats business. “These changes will support that future by consolidating multiple layers of management into a streamlined, responsive and integrated structure,” he said.
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Maple Leaf said the “transition” to a “new organisation” focused on consumer meats will result in a “number of changes” in the executive line-up.
At the “most senior level” Maple Leaf said Maple Leaf financial executive Debbie Simpson will succeed Michael Vels as CFO, while Gary Maksymetz will replace Richard Lan as chief operating officer.
Maple Leaf did not provide details of the total number of jobs it expects to cut. The group said it would specify the charges it will incur when it reports its first-quarter numbers.
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