WCB appoints Saputo CEO as board chairman

Lino Saputo Jr.

Lino Saputo Jr.

WARRNAMBOOL Cheese and Butter has appointed Saputo chief executive Lino Saputo Jr as board chairman, replacing Terry Richardson in the role.

WCB confirmed the board changes on Friday morning following its general meeting.

Saputo holds a 87.92 per cent stake in WCB after the lengthy takeover battle for the dairy processor.

Also elected to the board was Louis-Philippe Carrière, Saputo's executive vice president, finance and administration.

Incumbent directors Neville Fielke, Terry Richardson and Bruce Vallance were re-elected.

The board has also appointed Saputo's president and chief operating officer, Dino Dello Sbarba as an associate director.

In March, WCB advised Saputo had requested a number of modifications to the company's constitution to, among other things, allow a restructure of the WCB board.

The modifications included removing the requirement for the board to consist of nine directors and the requirement for the board to have not less than four supplier directors.

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