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August 20, 2019

Maple Leaf Foods finance chief Debbie Simpson to depart

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

By Dean Best

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.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
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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.”  

Related Companies

Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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