SunOpta Announces Appointment of New Member to its Board of Directors

Rhea-AI Summary

SunOpta Inc. (Nasdaq:STKL) has appointed Mahes S. Wickramasinghe to its Board of Directors. Wickramasinghe brings extensive international experience in finance, banking, operations, and risk management. He is expected to join the Audit Committee. Dean Hollis, Chairman of the Board, emphasized that Wickramasinghe's expertise in corporate strategy, mergers, and acquisitions will be vital as SunOpta aims to meet its strategic goals. Wickramasinghe has previously held senior positions at Canadian Tire Corporation and CIBC, and is a Certified Public Accountant.

Positive

• Appointment of Mahes S. Wickramasinghe to the Board of Directors adds significant financial and operational expertise.
• Wickramasinghe's background in risk management and mergers & acquisitions is expected to strengthen corporate strategy.

Negative

• None.

SunOpta Inc. (Nasdaq:STKL) (TSX:SOY), a leading healthy food and beverage company focused on plant-based foods and beverages and fruit-based foods and beverages, today announced Mahes S. Wickramasinghe has been appointed to SunOpta’s Board of Directors.

Mahes S. Wickramasinghe is a senior executive with significant international experience in all areas of business including finance, banking, operations and technology as well as audit and risk management. The Board of Directors expects to appoint Mr. Wickramasinghe to serve as a member of the Audit Committee.

“We are pleased to have Mahes join SunOpta’s Board of Directors. Mahes brings extensive expertise in finance, banking, audit and risk management to our board,” said Dean Hollis, Chairman of the Board of Directors of SunOpta. “His deep experience in corporate strategy, risk management, merger and acquisition initiatives, and wholesale and international operations will be invaluable to SunOpta as we work to deliver our strategic goals. We look forward to his contributions.”

About Mahes S. Wickramasinghe

Mr. Wickramasinghe is currently an Executive Vice-President of Canadian Tire Corporation (CTC). From March 2020 until June 2021, he was President, Canadian Tire Financial Services and President and Chief Executive Officer, Canadian Tire Bank, responsible for corporate strategy, risk management, merger and acquisition initiatives, and wholesale and international operations, including leading CTC’s acquisition of Helly Hansen. Prior to this role, Mr. Wickramasinghe served as Executive Vice-President, International and Chief Corporate Officer from September 2016 to March 2020. Upon joining CTC in 2014, Mr. Wickramasinghe was appointed its Chief Strategy Officer.

Mr. Wickramasinghe has extensive expertise and international experience, having served in a variety of senior roles within CIBC, BCE and Rogers Communications. Having joined CIBC as Head of Audit for CIBC World Markets Europe and Asia, based in London, Mr. Wickramasinghe went on to hold the roles of Chief Financial and Administrative Officer of CIBC Amicus/President’s Choice Financial, Chief Administrative Officer of CIBC Retail Bank and Chief Administrative Officer of CIBC FirstCaribbean International Bank. He has also served as Senior Vice-President-Corporate Finance at Rogers Communications Inc., Executive Vice-President at Bell Aliant and Senior Vice-President at BCE. With decades of service across a variety of industries, Mr. Wickramasinghe has had an international career advising corporations on strategic matters. He has managed complex acquisitions and restructurings and has also led functions in operations, technology, data and finance.

Mr. Wickramasinghe began his career as a Chartered Accountant in Sri Lanka. He is a Certified Public Accountant (U.S.) and a Fellow of the Chartered Institute of Management Accountants (UK). He is also the Chairman of the Helly Hansen Board of Directors.

About SunOpta Inc.

SunOpta Inc. is a leading company specializing in the sourcing, processing and production of organic, natural and non-GMO plant-based and fruit-based food and beverage products.

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FAQ

What is the significance of Mahes S. Wickramasinghe's appointment to SunOpta's Board of Directors?

Mahes S. Wickramasinghe's appointment is significant as he brings extensive expertise in finance, risk management, and corporate strategy, which may enhance SunOpta's operational effectiveness.

What experience does Mahes S. Wickramasinghe have prior to joining SunOpta?

Before joining SunOpta, Wickramasinghe held senior executive roles at Canadian Tire Corporation and CIBC, focusing on risk management, mergers, and acquisitions.

When was Mahes S. Wickramasinghe appointed to the Board of Directors of SunOpta?

Mahes S. Wickramasinghe was appointed to SunOpta's Board of Directors on the date of the press release, although the specific date is not mentioned.

How will Mahes S. Wickramasinghe contribute to SunOpta's goals?

Wickramasinghe is expected to contribute significantly to SunOpta's goals through his expertise in corporate strategy, risk management, and operational efficiency.