Viterra Inc.

Viterra Inc.
Saskatchewan Wheat Pool Inc.

January 24, 2008 10:30 ET

Viterra Appoints New Chief Financial Officer

REGINA, SASKATCHEWAN--(Marketwire - Jan. 24, 2008) - Viterra (TSX:VT) is pleased to announce the appointment of Mr. Rex J. McLennan, who joins Viterra's senior management team, effective February 4, as Chief Financial Officer.

"We are excited to have Rex join our senior management team. He is a strategically focused executive and comes to Viterra with an impressive depth in the areas of financial management and business development, earned through more than 25 years with multinational resource based companies. He has a strong track record of leading high performance teams to achieve top results," said Mayo Schmidt, Viterra's President and Chief Executive Officer.

Mr. McLennan will lead Viterra's financial and risk management operations. He will build the infrastructure of financial programs, policies and controls, and set long term plans aligned with Viterra's vision to be a globally focused leader in agribusiness.

Prior to joining Viterra, Mr. McLennan held increasingly responsible positions in the mining and oil and gas sectors. From 1997 to 2005, he was the Executive Vice President and Chief Financial Officer for Placer Dome Inc., a multinational mining company acquired by Barrick Gold in 2005. Prior to this, he held the position of Vice President and Treasurer with the same company. For more than ten years, he held positions of increasing responsibility in business planning, finance and treasury and was a Senior Advisor in the Treasurer's Department for Imperial Oil, a publicly traded Canadian subsidiary of Exxon Corporation. Most recently, Mr. McLennan was the Executive Vice-President & Chief Financial Officer for Vancouver 2010 "VANOC" - the organizing committee for the 2010 Olympic and Paralympic Winter Games.

Mr. McLennan holds a Master of Business Administration degree from McGill University and a Bachelor of Science degree from the University of British Columbia. He is a member of the Financial Executives Institute. He will reside in Calgary, Alberta, working with operations across Western Canada.

Mr. McLennan replaces Mr. David Carefoot, who will remain with the Company until the end of February to assist with transitioning.

Saskatchewan Wheat Pool Inc., doing business as Viterra, is Canada's leading agri-business, with extensive operations and distribution capabilities across Western Canada, and with operations in the United States and Japan. The new company is diversified into sales of crop input services and equipment, grain handling and marketing, livestock feed, agri-food processing and financial products. These operations are complemented by value-added businesses and strategic alliances, which allow Viterra to leverage its pivotal position between Prairie farmers and destination customers. The Company's common shares are listed on the Toronto Stock Exchange under the symbol VT.

Contact Information

  • Viterra
    Peter Flengeris, Media Relations
    Investor Relations and Corporate Affairs
    (306) 569-4810