METRO INC. ANNOUNCES RETIREMENT OF CFO FRANÇOIS THIBAULT NEXT SPRING

MONTREAL , Oct. 21, 2024 /CNW/ - METRO Inc. (TSX: MRU) announced today that after more than 12 years with the company, François Thibault, Executive Vice President, Chief Financial Officer and Treasurer, has decided to retire next spring.

Since joining METRO in 2012, François has been a great leader of the company and business partner to our operating divisions, steering a number of key acquisitions, including the Jean Coutu Group, and supporting the modernisation of our supply chain. He has ensured the company's solid financial position and disciplined capital allocation, overseeing sustained investments across the business and contributing to the achievement of our long-term financial objectives. He also established strong credibility with investors and will leave behind an excellent team.

"I am grateful to François for his strong leadership and partnership over the last 12 years and thank him for his significant contribution to our success", said Eric La Flèche, President and Chief Executive Officer.

François will continue in his role until his retirement which will give the Company time to identify a successor through the external search we are initiating as well as allow for a smooth and harmonious transition.

About METRO Inc.

With annual sales of more than $20 billion , METRO Inc. is a food and pharmacy leader in Québec and Ontario , providing employment to more than 97,000 people. Its purpose is to Nourish the health and well-being of our communities. As a retailer, franchisor, distributor, manufacturer, and provider of eCommerce services, the company operates or services a network of 980 food stores under several banners including Metro, Metro Plus, Super C and Food Basics, and 640 drugstores primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners. For more details, visit corpo.metro.ca.

SOURCE METRO INC.