Friday, February 3, 2017

Lino Saputo to step down

Lino Saputo will give up his role as chairman of the board at Saputo Inc. when he reaches 80 on Aug. 1.
His son, Lino Saputo Jr., will become the chairman in addition to chief executive officer, which he became in 2004.

Saputo Sr. founded the company in Montreal, specializing in mozzarella. It is now Canada’s largest dairy business with significant operations in the United States, Australia and Argentina.

Its third quarter profits were $127.4 million, a 12.7 per cent increase from a year earlier, and its revenues were $2.97 billion.