François Olivier will retire as president and CEO of TC Transcontinental Inc. in Canada in December, the board of directors announced recently.
His last day will be Dec. 9. He has been with company for 28 years, including 13 years as president and CEO. Peter Brues, a board member since 2018 and chair of the Audit Committee, will succeed him. Brues will start Nov. 1 and will work with Olivier during a transition period.
Brues will officially assume his duties on Dec. 10. Brues’s appointment is the culmination of a rigorous succession planning process led by the company’s Human Resources and Compensation Committee, the company says in a statement.
“The board of directors wishes to acknowledge the exceptional contribution of François Olivier to Transcontinental and to highlight his remarkable career that featured many strategic and significant achievements for Transcontinental,” says Isabelle Marcoux, board chair. “His innovative vision, decisive leadership, and business skills have helped propel Transcontinental to its position as a leading flexible packaging company in North America and the largest printer in Canada.”
Olivier says the company is well positioned to see through its strategic vision.
“I am particularly grateful to the employees who, through their exceptional commitment and hard work, contribute to Transcontinental’s success each and every day,” he says.
Olivier’ tenure as president and CEO began with the optimization of the printing platform and cost-reduction initiatives at a time when the company was making major investments in its newspaper and flyer printing platform. He subsequently played a central role in the consolidation of the Canadian market with strategic acquisitions, such as Quad/Graphics Canada. He also continued to optimize the printing platform to solidify the company’s position as the largest printer in Canada.
Olivier then turned his attention to transforming and diversifying the company. In 2014, he began the implementation of a business strategy that aimed to diversify assets into flexible packaging. He made his first acquisition in this sector in May of 2014. In the spring of 2018, in a $1.3 billion transaction, he completed the acquisition of Coveris Americas. The packaging sector thus became the company’s main driver of growth.
Brues has extensive experience in managing international manufacturing operations, as well as in mergers and acquisitions. Brues joined the company on Sept. 6, 2018. He has served on the Human Resources and Compensation Committee since his appointment to the board and chaired the Audit Committee from 2019 to the present. During that time, he has also worked with private equity firms in evaluating companies and developing acquisition strategies.
From 2010 to 2015, Brues served as president of Amcor Flexibles Europe & Americas, based in Zurich, Switzerland, where he was responsible for 72 plants in some 20 countries. Prior to that, beginning in 2003, Brues, 53, was president of Amcor Flexibles Americas, based in Chicago, and subsequently served as president of Amcor Flexibles Healthcare.