McCain Foods and Maple Leaf Foods both issued statements expressing their sadness at the news.
President and CEO of McCain Foods said: “Wallace was a visionary, a philanthropist and an icon of Canadian business, but to many of us here he was our neighbour, friend, colleague and mentor. His contributions to the success of McCain are immeasurable. He created many opportunities for many people. We will miss him. The best way I can think of to honour his memory is to continue building on the legacy he left behind. The spirit of our founders will live in all that we do."
Lead director of the Maple Leaf Foods board of directors Purdy Crawford said: "Wallace made an indelible impact on Maple Leaf Foods, our country and the food industry globally. He had a rare gift for business that was driven by his personal courage, love of people, and sharp insights. His incredible accomplishments came about because of his perseverance, humility and belief in others. Wallace's efforts to support his community, and those less fortunate, were tireless. He was an extraordinary man, with a huge heart, and we will miss him profoundly."