Transcontinental Inc. announces appointment of Donald LeCavalier as Chief Financial Officer and retirement of Nelson Gentiletti from the Corporation
Montréal, September 21, 2018 – Transcontinental Inc. (TSX: TCL.A TCL.B) today announced the appointment of long-time TC Transcontinental executive Donald LeCavalier as Chief Financial Officer of the Corporation, effective immediately. In his new role, Donald LeCavalier will lead the entire finance department and will report directly to François Olivier, President and Chief Executive Officer. Nelson Gentiletti will be retiring from the company on December 31, 2018.
“We are extremely pleased to appoint Donald, a seasoned executive who has been with TC Transcontinental for over 12 years, as CFO,” said François Olivier. “Donald’s breadth of knowledge of the company and wealth of experience in finance made him the obvious choice for this position. I have every confidence that Donald will skillfully manage our talented teams, while developing effective financial strategies. He is a respected and unifying leader who will continue to play a pivotal role in our journey to profitable growth.”
“I am thrilled to accept the CFO position at TC Transcontinental, a company that fosters a long-term vision and that I have come to know so well,” stated Donald LeCavalier. “I look forward to providing strong financial stewardship to the organization throughout its transformation and to contributing to its success. Together with our highly skilled team members and the Executive Management Committee, we will focus on driving the company’s growth, as well as on delivering solid financial performance and sustainable shareholder value.”
“Nelson has very recently notified us that he is poised to retire from the company after his successful 7-year tenure as the Corporation’s Chief Financial and Development Officer,” added François Olivier. “He has had a remarkable impact on our organization, ensuring sound financial management and reporting while playing an important role in our growth strategy in flexible packaging and in completing many transactions that have shaped our transformation. On behalf of the TC Transcontinental family, I sincerely thank Nelson for his invaluable contribution.”
Nelson Gentiletti commented: “I am truly grateful for the wonderful experience I have had with the company over the last seven years. I am proud of what we have accomplished as a team at TC Transcontinental to diversify the company’s assets and position it for lasting growth. I have decided that this is the right time for me to pursue different opportunities. I am fully committed to ensuring a seamless transition of my responsibilities with the Corporation.”
About Donald LeCavalier
Donald LeCavalier has more than 12 years of experience with TC Transcontinental in leadership roles of increasing responsibility and serves on the Executive Management Committee of the Corporation since 2010. He first joined TC Transcontinental in 2006 as Treasurer before being appointed Vice President of Finance in 2013. Mr. LeCavalier then successively became Senior Vice President of Finance for the Corporation in 2015, and Senior Vice President of Finance and Corporate Affairs in 2017, prior to being appointed CFO.
In his most recent position as Senior Vice President, Finance and Corporate Affairs, Mr. LeCavalier was responsible for disclosure of financial information and analysis, taxation, internal control, corporate treasury and transactional services, in addition to being responsible for investor relations and governmental affairs, and for overseeing Corporate Communications.
To date, Mr. LeCavalier’s path at TC Transcontinental has been forged through many notable achievements, including his leadership of the Corporation’s refinancing of nearly a billion dollars during the 2008-2009 financial crisis. More recently, he orchestrated the financing for the US$1.3 billion transformational acquisition of Coveris Americas, the largest acquisition in the company’s history.
Prior to joining TC Transcontinental, Donald LeCavalier held various treasury positions at SNC-Lavalin and Donohue, and later served as Treasurer at Transat AT from 1999 to 2006. A Chartered Accountant (CPA), he is a graduate of the Université du Québec à Montréal. Through his involvement with youth and the community, he serves on the Board of Directors of the Guy-Drummond Foundation. As part of his commitment to education and to working with the next generation, he regularly shares his professional experience with MBA students at Concordia University and HEC Montréal, pursuing their CPA designation.
About TC Transcontinental
TC Transcontinental is a leader in flexible packaging in North America, and Canada’s largest printer. The Corporation is also a Canadian leader in its specialty media segments. For over 40 years, TC Transcontinental's mission has been to create products and services that allow businesses to attract, reach and retain their target customers.
Respect, teamwork, performance and innovation are strong values held by the Corporation and its employees. TC Transcontinental's commitment to its stakeholders is to pursue its business activities in a responsible manner.
Transcontinental Inc. (TSX: TCL.A TCL.B), known as TC Transcontinental, has over 9,000 employees, the majority of which are based in Canada, the United States and Latin America. TC Transcontinental had revenues of approximately C$2.0 billion for the fiscal year ended October 29, 2017. The Corporation has completed, on May 1, 2018, the transformational acquisition of Coveris Americas which generated approximately C$1.26 billion in revenues (US$966 million) for its fiscal year ended December 31, 2017. For more information, visit TC Transcontinental's website at www.tc.tc.
Our public communications often contain oral or written forward-looking statements which are based on the expectations of management and inherently subject to a certain number of risks and uncertainties, known and unknown. By their very nature, forward-looking statements are derived from both general and specific assumptions. The Corporation cautions against undue reliance on such statements since actual results or events may differ materially from the expectations expressed or implied in them. Forward-looking statements may include observations concerning the Corporation's objectives, strategy, anticipated financial results and business outlook. The Corporation's future performance may also be affected by a number of factors, many of which are beyond the Corporation's will or control. These factors include, but are not limited to, the economic situation in the world, structural changes in the industries in which the Corporation operates, the exchange rate, availability of capital, energy costs, competition, the Corporation's capacity to engage in strategic transactions and effectively integrate acquisitions into its activities without affecting its growth and its profitability, while achieving the expected synergies, the political, social, regulatory and legislative environment, in particular with regard to the environment and sustainable development, the safety of its packaging products used in the food industry, innovation of its offering, the protection of its intellectual property rights, concentration of its sales in certain segments, cybersecurity and data protection, recruiting and retaining qualified personnel in certain geographic areas and industry sectors, taxation, interest rate and net indebtedness level. The main risks, uncertainties and factors that could influence actual results are described in the Management's Discussion and Analysis (MD&A) for the fiscal year ended October 29, 2017 and in the latest Annual Information Form, and have been updated in the MD&A for the second quarter ended April 29, 2018.
Unless otherwise indicated by the Corporation, forward-looking statements do not take into account the potential impact of nonrecurring or other unusual items, nor of divestitures, business combinations, mergers or acquisitions which may be announced after the date of September 21, 2018.
The forward-looking statements in this press release are made pursuant to the “safe harbour” provisions of applicable Canadian securities legislation.
The forward-looking statements in this release are based on current expectations and information available as at September 21, 2018. Such forward-looking information may also be found in other documents filed with Canadian securities regulators or in other communications. The Corporation's management disclaims any intention or obligation to update or revise these statements unless otherwise required by the securities authorities.
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