GLV Appoints Richard Verreault as President and CEO, and Laurent Verreault as
Executive Chairman of the Board
MONTREAL, Sept. 23 /CNW Telbec/ - The Board of Directors of GLV Inc. (the "Corporation"; TSX: GLV.A, GLV.B) announces the appointment of Mr. Richard Verreault as President and Chief Executive Officer. At the same time, Mr. Laurent Verreault is named Executive Chairman of the Board. These appointments are effective as of today.
"With the deployment of our strategy to build a leading group within the global water industry, GLV is entering a new growth phase, said Laurent Verreault. For me, it is an appropriate time to let the next generation carry on the work. Richard is certainly the best candidate to take up this challenge. In 27 years with the company, he has had the opportunity to handle every aspect of management and acquire in-depth knowledge of our businesses, operations and markets. Therefore, it is with absolute confidence that I pass him the lead role. This being said, I intend to continue to play an active role in close relationship with the team in place."
"It is a great honour for me to take over this responsibility and carry on the impressive work Laurent has accomplished since the beginning of our company, commented Richard Verreault. I am extremely thankful for his ongoing support from the first day I started with the company, and from which we will continue to benefit in his role as Executive Chairman of the Board. His visionary attitude and his commitment to continuously develop our organization were key factors in the success of GLV. And I will remain inspired by the same values while we are pursuing our growth strategy which, more than ever, aims at creating sustained value."
Richard Verreault
Until his recent appointment, Richard held the position of President and Chief Operating Officer of GLV Inc., a position he had held with Groupe Laperrière & Verreault Inc., GLV's original company, since 2005. He joined Groupe Laperrière & Verreault in 1983 and, during the last 27 years, has held numerous positions through which he acquired extensive experience in each of the Corporation's business sectors, along with in-depth expertise in various fields including engineering, marketing, sales, manufacturing, quality control and human resources management. Under his leadership, GLV Inc. experienced sustained development in all its target markets, enhanced its selection of products with technological added-value, and strengthened its global vision and organization.
Laurent Verreault
Laurent Verreault is one of Groupe Laperrière & Verreault founders. He has held the position of Chief Executive Officer since its foundation in 1975. In 1986 when the stock of Groupe Laperrière & Verreault became publicly listed, he was named Chairman of the Board. Mr. Verreault is currently a member of the board of directors of Cascades Inc. He is also a director of TSX Group Inc. and a member of its human resources committee. Over the years, he has been actively involved in various causes dedicated to research, charity and culture, and has been recognized on several occasions for his contribution to the business community and social development.
About GLV Inc.
GLV Inc. is a leading global provider of water treatment solutions, under the Ovivo brand, as well as technological solutions used in pulp and paper production. It operates in some 30 countries with approximately 2,300 employees as at June 30, 2010. GLV is a public company whose shares trade on the Toronto Stock Exchange (TSX) under the ticker symbols GLV.A and GLV.B; it is a constituent of the S&P/TSX Clean Technology Index.
Notice regarding forward-looking statements
Statements made in this press release that describe the Company's or management's budgets, estimates, expectations, forecasts, objectives, predictions or projections of the future may be "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "anticipates", "believes", "estimates", "expects", "may", "plans", "projects", "should", "will", or the negative thereof or other variations thereon. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions and/or results could differ materially from those expressed or implied in such forward-looking statements, or could affect the extent to which a particular projection materializes. For more information on risks and uncertainties, and assumptions that would cause the Company's actual results to differ from current expectations, please refer to the section V "Risk management and risk factors" of the Management Discussion and Analysis (MD&A) for the fiscal year ended March 31, 2010. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date.
For further information: Investors: Louis Guindon, Vice-President, Treasury, +1 514-284-2224, [email protected]; Media: Yves Doucet, Director, Communications, +1 514-284-7202, [email protected]
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