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Canada Bread director resigns in wake of sale to Grupo Bimbo

11-Mar-2014

Grupo Bimbo's C$1.83bn acquisition of Canada Bread is set to close during the second quarter of 2014
Grupo Bimbo's C$1.83bn acquisition of Canada Bread is set to close during the second quarter of 2014

William E. Aziz has resigned as director of Canada Bread just one month after Grupo Bimbo purchased the company for C$1.83bn.

Grupo Bimbo’s acquisition is set to close during the second quarter of 2014, following a special meeting of shareholders on April 3.

Maple Leaf Foods CEO Michael H. McCain thanked Aziz for his commitment to Canada Bread and his diligence at ensuring the best interests of the company and shareholders had been served, particularly in the final months as Grupo Bimbo’s agreement was finalized.

The company gave no reason for Aziz’s resignation, simply stating it was his decision.