MONTREAL — Saputo Inc. says its president and CEO Lino Saputo plans to transition to the role of executive chair of the board.

The Montreal-based dairy processor says the transition will take effect Aug. 9, the date of the company's annual general meeting.

Saputo says Carl Colizza, the company's current president and chief operating officer for North America, will take the top job in August.

Colizza has been with Saputo since 1998, and in his current role since 2019.

Saputo says Colizza will continue to perform the functions of his current role after the transition for the time being.

The company says Colizza's track record and dedication to Saputo's core values make him the ideal candidate to lead the company.

This report by The Canadian Press was first published May 14, 2024.

Companies in this story: (TSX:SAP)

© 2024 The Canadian Press. All rights reserved., source Canadian Press DataFile