Serge Riendeau announces departure as president of Agropur Cooperative

Oct 17, 2016

After a 25-year career on the Agropur Board of Directors, including nearly 15 years as President of the Cooperative, Serge Riendeau announced today that he will retire on February 8, the date of Agropur's Annual General Meeting.

"I feel satisfied with the job I have done and I am confident that Agropur is in excellent shape to continue its development," said Serge Riendeau. "Agropur is a great source of pride to its members. The Board's duty to secure its future is a vital and stimulating responsibility. Personally, I poured my heart and soul into achieving our objectives, serving our owner-members and advancing the organization."

During Mr. Riendeau's tenure as President (2002-2016), Agropur's annual sales surged from $1.8 billion to $6 billion, making it one of the world's 20 largest dairy processors. Mr. Riendeau strongly supported Agropur's drive for sustainable growth, notably the string of mergers and acquisitions and series of major investments in facilities by which Agropur consolidated ownership of processing assets in the hands of Canadian dairy producers. It was also under Mr. Riendeau that the Cooperative expanded into the US to become one of the largest processors in North America. He was the architect of many initiatives to advance Canada's dairy industry, including most recently the decision to halt imports of diafiltered milk, as well as the central role played by Agropur in establishing a national strategy that supports Canadian milk ingredients and serves the interests of consumers, producers, the industry and members. He leaves behind him a financially sound organization that is growing by leaps and bounds despite challenging global markets. Today, Agropur is the largest dairy processor in Canada and the fifth largest in North America.

"I thank all Agropur members, my fellow Directors, with whom I have worked over the years, our CEO Robert Coallier, and all Agropur employees for their excellent work, which has made our Cooperative the world leader it is today and Canada's most trusted dairy brand," Mr. Riendeau added.

"Mr. Riendeau can be proud of his contribution to Agropur's success during the 25 years he devoted to the Cooperative," said Robert Coallier, CEO of Agropur. "I salute his vision and his leadership, which were instrumental in the organization's development, in its exponential growth, which has propelled it into the ranks of the world's largest dairy processors, and in the productive relationships forged with partners and internally."

Source: Newswire

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