Maple Leaf, investment fund reach accord
Feb. 3, 2011
by Jeff Gelski
TORONTO — Gregory A. Boland, chief executive officer of West Face Capital, has been named to the board of directors of Maple Leaf Foods, Inc. as part of an agreement between the two entities. West Face Capital, a Toronto-based investment fund, owns about 11.4% of Maple Leaf Foods’ outstanding shares. Under the agreement, West Face Capital will withdraw its requisition for a special meeting to vote on five, non-binding advisory resolutions.
Mr. Boland also will serve on Maple Leaf Foods’ corporate governance and human resources and compensation committees.
“Mr. Boland’s appointment is part of an ongoing process to make changes in the composition and structure of our board that reflect significant changes in our shareholder base,” said James Hankinson, chair of the governance committee. “Mr. Boland brings both experience and perspective that will be an asset to the board as we continue to build sustained shareholder value.”
Maple Leaf Foods annual general meeting of shareholders will go on as planed April 28.