Maple Leaf Foods has announced finance chief Debbie Simpson will leave the Canadian meat firm at the end of October with a search for her successor underway.

Simpson has been CFO of the Toronto-listed business for the past five years having worked at the company for 12 years, according to a statement.

She said: “This is an inflection point in my career and the right time both personally and professionally for me to take on a new challenge in a new industry. I have worked alongside a finance team with great depth and experience and I am committed to ensuring a smooth transition.”

Her departure comes after Maple Leaf secured a new CAD2bn (US$1.48bn) funding arrangement with an existing banking syndicate in May to partly fund expansion. The lending facility will help meet the company’s funding requirements for investment in the construction of its two recently announced facilities in London, Ontario, and Shelbyville, Indiana.

Michael McCain, president and CEO, commented on Simpson’s departure: “Debbie has made a very significant contribution to Maple Leaf through her executive leadership in financial management, reporting and strategic initiatives that have shaped the future of our company. We have benefited immensely from her expertise and dedication and wish her the very best as she pursues her next challenge.”

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By GlobalData