Stanley Ma Stepping Down as CEO of MTY

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MONTREAL — MTY Food Group Inc. has announced that its founder, Stanley Ma, will be stepping down as CEO of the company effective Nov. 2, 2018.

While Ma will retain his role as the Chairman of the Board of Directors of the company, Eric Lefebvre will take over the role of CEO. Lefebvre has joined the company in 2009 and is currently the CFO of MTY.

“Over the past decade, MTY has assembled a strong leadership team to drive its business to new heights but also in anticipation of this day. We have been reiterating for many years that MTY is no longer a one-person company, but rather a team of 700 people,” says Ma. “I intend to be an active chairman, providing guidance for our acquisition strategy, while Lefebvre and our remarkable senior leadership team will carry the operations of the company and execute MTY’s strategy.”

Claude St-Pierre will also be stepping down from her role as COO of MTY on Nov. 2, 2018 to concentrate on the execution of the company’s acquisition strategy. St-Pierre will retain her role as a director and secretary of MTY. During the transition period, Lefebvre will gather a team of executives that will take over St-Pierre’s duties and make recommendations to the Board of Directors to name a new CFO. Those functions are expected to be mostly shared among MTY’s current management team.

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