In a recent announcement, Saputo disclosed that its newly-appointed Chief Operations Officer, Frank Guido, will be stepping down for unspecified personal reasons. This marks a significant transition for the dairy leader.
Meanwhile, Carl Colizza, the CEO and President of Saputo, will temporarily take on the responsibilities of COO.
Guido was appointed COO of the Canadian dairy group in September, a decision that took place concurrently with Colizza’s executive team restructuring.
Colizza had only recently assumed the position of CEO and President the prior month, having transitioned from the roles of President and COO of Saputo’s North America business division.
He succeeded Lino Saputo Jr., who moved on to a new role focused on providing “strategic oversight” to the broader management team.
In its statement regarding Guido’s appointment, the company suggested that his promotion, which previously had him overseeing Saputo’s U.S. dairy unit, would now encompass global operations across North America, Europe, and the international division.
According to the company, all divisional presidents and COOs would report directly to Guido during his tenure.
In its fiscal second-quarter financial results announced on November 7, Saputo reported revenues of C$4.7 billion ($3.26 billion), representing an 8.9% year-on-year increase. This growth can be attributed to enhanced sales volumes and increased domestic selling prices.
However, net income saw a decline from C$156 million a year earlier to C$126 million, while adjusted EBITDA fell by 2.3% to C$389 million. The company cited rising production costs in its International division as a contributing factor.
