Menu Foods Income Fund

Menu Foods Income Fund

August 31, 2005 11:52 ET

Menu Foods Income Fund Executive Announcement

TORONTO, ONTARIO--(CCNMatthews - Aug. 31, 2005) –

Attention Business Editors

Menu Foods Income Fund (TSX:MEW.UN)("Menu" or the "Fund") today announced the retirement of Serge Darkazanli as Chairman and Chief Executive Officer, of Menu Foods GenPar Limited ("GenPar") - the company responsible for the day-to-day operations of the Fund. Prior to joining Menu, Mr. Darkazanli had a very successful 25-year career with Loblaws, retiring as CEO of its Westfair division in 2001. In September 2002, following the untimely death of Menu's CEO and largest shareholder, Robert Bras, Mr. Darkazanli, a Trustee of the Fund, agreed to come out of retirement to take on the role of CEO of Menu.

During his three year term as CEO, Mr. Darkazanli successfully led the Fund through events that will continue to shape the Fund in the years to come, including the challenges of BSE in 2003 and the negotiation of the Fund's contract manufacturing agreement with Iams/P&G. Under his stewardship, the Fund has grown and solidified its position as North America's largest private label and contract manufacturer of wet pet food. Mr. Darkazanli will continue as a Trustee of the Fund and a Director of GenPar.

With Mr. Darkazanli's retirement, the Fund announced the appointment of Paul Henderson as GenPar's President and Chief Executive Officer. Mr. Henderson has been with Menu for seven years, serving as its Chief Operating Officer for the past four years and President for the last year. During this period, Mr. Henderson worked closely with Mr. Darkazanli spearheading many of the acquisition and capital investment opportunities that the Fund has undertaken. Prior to joining Menu, Mr. Henderson had an eight-year career with Cott Corporation as its Chief Financial Officer. Mr. Henderson brings a deep knowledge and understanding of the private label sector to his new role.

The Fund also announced the appointment of Robert Luba as Chairman of GenPar's Board of Directors. Mr. Luba's appointment as non-executive Chairman of the Board, is in addition to his current role as Chairman of the Board of Trustees of the Fund and aligns those two groups under his chairmanship. In addition, the separation of the roles of Chairman and CEO within Menu's operations, was undertaken to strengthen the independence, oversight and governance of the Fund's operations.

Menu is the leading North American private-label/contract manufacturer of wet pet food products sold by supermarket retailers, mass merchandisers, pet specialty retailers and other retail and wholesale outlets. Menu currently produces more than one billion containers per year.

Contact Information

  • Menu Foods GenPar Limited
    Paul Henderson
    President & CEO
    (905) 826-3870