David Smales has been named the next chief financial officer (CFO) of Maple Leaf Foods.
He will succeed, Geert Verellen, who has decided to step down as CFO in the new year. Verellen has been with the company since January 2020.
"As we planned for this transition, finding the right successor for Geert was a critical priority for us," said Curtis Frank, president and CEO of Maple Leaf Foods. "Geert has made a significant impact over the last four years, including playing an important role in leading us through one of the most ambitious capital investment programs in our history. On behalf of the entire company, we thank Geert for his leadership, and wish him all the best in the next phase of his career."
Geert VerellenCourtesy Maple Leaf Foods
"In our search for a new CFO, we actively sought someone with David’s breadth of experience, blending strong financial acumen with long-term strategic planning skills and a deep understanding of Canadian capital markets," continued Frank. "We are thrilled that David will be joining our Senior Leadership Team, and certain he will be a great addition to Maple Leaf Foods as we execute our strategic blueprint on the journey to becoming the most sustainable protein company on earth."
Smales comes to Maple Leaf Foods with a long track-record as a public company CFO, including almost 15 years as executive vice president and CFO at Aecon Group, a national Canadian construction and infrastructure development company with global experience.
Aceon President and CEO Jean-Louis Servranckx said Smales was an asset to the company, and he will be missed.
“David’s significant contributions to Aecon during his 14-year tenure have been critical to the company’s success,” said Servranckx. “David was instrumental as Aecon navigated through a transformative year in 2023 with three strategic transactions that increased focus on long term growth sectors.”
Prior to Aecon, Smales was CFO at Catalyst Paper Corporation, and has decades of international and transactional experience at PricewaterhouseCoopers and Novar PLC. Smales is a member of the Institute of Chartered Accountants in England and Wales and has a Bachelor of Arts degree from the University of Newcastle-Upon-Tyne in England.
Smales will remain with Aecon Group until January 26, 2024. His first day with Maple Leaf Foods will be January 29, 2024.
