Montreal, Canada—The Board of Directors of Transcontinental Inc announced that François Olivier will retire from the company. He will be leaving his functions on Dec. 9, 2021, after 28 years with the company, including 13 years as president and CEO. Peter Brues, a member of Transcontinental’s Board of Directors since 2018 and chair of the Audit Committee, will succeed him as president and CEO. Brues will join the organization as of Nov. 1 and will work with Olivier during a transition period. He will officially assume his duties on Dec. 10. Brues’ appointment is the culmination of a rigorous succession planning process led by the company’s Human Resources and Compensation Committee.
“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,” said Isabelle Marcoux, chair of the Board of Directors. “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. We sincerely thank François for his invaluable contribution to the growth, diversification and transformation of Transcontinental over the years.”
“After 28 years with Transcontinental, I am departing with confidence and pride, leaving behind a solid, successful and responsible company that is well positioned to pursue its evolution and strategic vision,” said Olivier. “I am particularly grateful to the employees who, through their exceptional commitment and hard work, contribute to Transcontinental’s success each and every day. It has been a privilege to serve as president and I would like to extend my warmest thanks to the Board of Directors, customers, shareholders and the Marcoux family for their confidence over the years.”
“The Board of Directors is also pleased to welcome Peter Brues as president and CEO,” said Marcoux. “A member of Transcontinental’s Board of Directors since 2018, he is already fully committed to Transcontinental’s vision and has in-depth knowledge of all our sectors of activity. His extensive business experience, his expertise in manufacturing, particularly in the packaging sector, and his human leadership are tremendous assets that will permit him to strategically and profitably exploit Transcontinental’s most promising market opportunities, continue to foster its responsible growth and shape its future prospects.”
“I am pleased to be more deeply involved in an organization that is growing fast worldwide and enjoys an excellent reputation,” said Brues. “I would like to thank the Board of Directors for their confidence in me and look forward to working with the management team to ensure Transcontinental’s continued success and the creation of sustainable shareholder value.”
Olivier’ journey as president and CEO of Transcontinental 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. Through his vision and a highly disciplined approach to capital deployment, Transcontinental invested $800 million to equip TC Transcontinental Printing with a state-of-the-art Canada-wide platform. François 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 Transcontinental’s position as the largest printer in Canada.
Once the printing sector was refocused and equipped with best practices in continuous improvement and manufacturing excellence, Olivier then turned his attention to transforming and diversifying Transcontinental’s business by positioning the company in a whole new sector, both organically and through acquisitions, to drive Transcontinental’s profitable growth over the long term.
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 the same year. In the spring of 2018, in a historic and transformational $1.3 billion transaction, the company completed the acquisition of Coveris Americas to become a North American leader in flexible packaging. The packaging sector thus became Transcontinental’s main driver of growth.
In light of the profound transformation experienced by the media industry, he refocused the offering of TC Media, which is now positioned as the largest publisher of French-language educational resources in Canada.
Under his presidency, Olivier built a competent, mobilized management team that is ready for the next stage in the company’s evolution by aiming for accelerated growth. As a result of his contribution, he leaves Transcontinental in an enviable position. Today, the company is a high-performing organization, acting in accordance with its values and demonstrating leadership in the responsible operation of its business.
Brues has extensive experience in managing international manufacturing operations, as well as in mergers and acquisitions. In addition to his exemplary track record in large-scale integrations, he has extensive financial expertise and is recognized for his ability to drive performance and maximize results from a global network of operations.
Brues joined Transcontinental on Sept. 6, 2018. He has served on the Human Resources and Compensation Committee since his appointment to the Board of Directors 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, he 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 made his mark as president of Amcor Flexibles Americas, based in Chicago, and subsequently served as -president of Amcor Flexibles Healthcare. Upon joining Amcor Twinpak in Montreal in 1994, he successively held the positions of director of operations for Amcor Flexibles – North America Inc. and vice president of Strategic Development, before becoming vice president of operations for the European division of Amcor Flexibles in Brussels, Belgium, from 2001 to 2003.
A Chartered Professional Accountant (CPA) by training, Brues holds a Graduate Diploma in accounting and a Bachelor of Commerce degree from Concordia University. Brues, 53, and his family reside in Montreal.