Lunenburg, Nova Scotia, Canada-headquartered High Liner Foods Incorporated announced on January 28 that Paul Jewer will replace Kelly Nelson as the company’s chief financial officer. Nelson, who will retire following High Liner’s annual general meeting in May, will work with his successor until that time to ensure a smooth transition.
Jewer was most recently chief financial officer with Sobeys Inc., a leading Canadian grocery retailer and food distribution company, where he was responsible for all financial functions, including reporting, planning, treasury, tax and investor relations. He is a Fellow Chartered Accountant (FCA), having begun his career with Ernst & Young LLP providing audit, tax, valuation and business advisory services for a variety of clients in various business sectors. Prior to joining Sobeys Inc. in 2003, Jewer held a number of senior finance positions in the technology sector.
Meanwhile, on January 29 High Liner Foods announced that it has received approval to purchase through the facilities of the Toronto Stock Exchange (TSX) up to 250,000 of the company’s 15,290,710 issued and outstanding common shares as of January 23, 2014. This represents approximately 2.91% of the public float, being 8,577,324 shares, of the common shares as of January 23, 2014. Purchases of stock, at market price, may commence on January 31, 2014, and will terminate no later than January 30, 2015.
The board of directors and senior management of High Liner Foods are of the opinion that from time to time the purchase of its common shares at the prevailing market price is in the best interest of the company and its shareholders. In the last 12 months, it did not acquire any common shares under the terms of a normal course issuer bid (NCIB) that expires on January 30, 2014.
High Liner Foods is a leading North American processor and marketer of value-added frozen seafoods. Its retail branded products are sold throughout the United States, Canada and Mexico under the High Liner, Fisher Boy, Mirabel and Sea Cuisine labels, and are available in most grocery and club stores. It also sells branded products under the High Liner, Icelandic Seafood, FPI, Viking, Mirabel, Samband of Iceland and American Pride Seafoods labels to restaurants and institutions, and is a supplier of private label value-added frozen seafood products to North American food retailers and foodservice distributors.
