Saputo Inc. announced its plan for executive leadership succession. Lino A. Saputo, Chair of the Board, President, and CEO, indicated to the Board of Directors his intention to transition from CEO to a role of Executive Chair of the Board. In this capacity, Mr. Saputo will continue to provide invaluable oversight of the Company?s strategic development to drive value creation.

The transition will take effect on August 9, 2024, the date of the Company?s upcoming Annual General Meeting. As part of the transition, the Board of Directors announced the appointment of Carl Colizza, currently President and COO (North America), as the new CEO of Saputo Inc. Since joining Saputo in 1998, Mr. Colizza has held key leadership positions in the area of engineering, operations, business development and strategy. He was appointed President and COO, Dairy Division (Canada) in 2015 before taking on the role of President and COO (North America) in 2019.

His dedication to Saputo?s core values and his proven track record make him the ideal candidate to lead the Company into its next chapter of growth and innovation. Following the transition, Mr. Colizza will continue to execute the functions of President and COO (North America) for the time being. Anthony Fata will continue to serve as independent lead director.

Carl Colizza holds a degree in Chemical Engineering from McGill University. Since joining Saputo in 1998 as an engineer, he has held several senior management positions in the Dairy Division (Canada). In 2002, he was appointed to the position of Director, Engineering and in 2007, he became Vice President of Engineering and Environmental Affairs.

In 2009, he was named Senior Vice President, Operations and, in 2014, Senior Vice President, Business Development. In 2015, he was appointed President and COO, of the Dairy Division (Canada), and in 2018, he also led the Dairy Division (Argentina). In 2019, he was named President and COO (North America).

In addition to these responsibilities, he took on the leadership of the Dairy Foods Division (USA) on an interim basis in early 2020, and then the position of President and COO for the unified Dairy Division (USA) from August 2020 to November 2021 and from June 2022 to March 2023.