SAPUTO’S direct influence on the running of Warrnambool Cheese and Butter (WCB) increased yesterday with Lino Saputo jnr being appointed as board chairman, replacing Terry Richardson in the role.
Mr Saputo is chief executive and vice-chairman of Canadian-based Saputo Inc, which took an 87.9 per cent stake in WCB earlier this year.
The changes were confirmed after a general meeting yesterday and followed advice to the board in March that Saputo wanted a number of modifications to the company’s constitution, including removal of the requirement for the board to have not fewer than four supplier directors. Incumbent directors Neville Fielke, Terry Richardson and Bruce Vallance were re-elected.
Directors Andrew Anderson, Kay Antony, Michael Carroll, Robert Lane and Ray Smith resigned their positions, as well as associate directors John McLean and Bruce Morley.
WCB chief executive David Lord continues in that role but is no longer on the board of directors.
Also elected to the board yesterday was Louis-Philippe Carriare, Saputo’s executive vice-president, finance and administration.
The board has also appointed Saputo’s president and chief operating officer Dino Dello Sbarba as an associate director.