MONTRÉAL, May 24, 2023
/CNW/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX)
today announced that Mr. Giancarlo
Santella, Chief Financial Officer (CFO), is leaving the
Corporation to pursue other career opportunities in a new industry.
Mr. Santella will continue to serve as CFO until his departure,
which is planned for June 9,
2023.
During Mr. Santella's tenure Imaflex achieved
significant milestones, including strong growth and a solid
financial foundation. "On behalf of the Board of Directors and
Imaflex team, I would like to thank Giancarlo for his valuable
contributions, dedication and leadership," said Mr. Joe Abbandonato, President and Chief Executive
Officer of Imaflex. "We wish him well in his future endeavors."
"It has been an exciting journey over the past
twelve years with Imaflex and I am proud of what we have
accomplished," commented Mr. Santella. "I am grateful for the
opportunities, support, and valuable experiences I have gained
during my tenure. The business is in a position of strength and has
great potential. As such, now is the right time for a new
challenge."
Imaflex has initiated a comprehensive search
process for Mr. Santella's successor. The Corporation remains
committed to ensuring a smooth transition and finding a candidate
who can build on the Corporation's achievements and drive further
growth.
In the interim, the Corporation is pleased to
announce that John Ripplinger, Vice
President Corporate Affairs, will also assume the responsibilities
of the CFO role. "John has worked extensively with Giancarlo over
the past six years making him well-positioned to maintain the
financial stability and strategic initiatives of Imaflex,"
commented Mr. Abbandonato. "I thank him for taking on this mandate
until a successor for Giancarlo is appointed."
Mr. Ripplinger has over 25 years of experience
working in such areas as Strategic Planning, Financial Planning
& Analysis, Budgeting & Reporting and Corporate Affairs,
working predominantly for blue-chip companies. He holds an MBA from
McGill University.
About Imaflex Inc.
Founded in 1994, Imaflex is focused on the
development and manufacturing of innovative solutions for the
flexible packaging space. Concurrently, the Corporation develops
and manufactures films for the agriculture industry. The
Corporation's products consist primarily of polyethylene (plastic)
film and bags, including metalized plastic film, for the
industrial, agricultural and consumer markets. Headquartered in
Montreal, Quebec, Imaflex has
manufacturing facilities in Canada
and the United States. The
Corporation's common stock is listed on the TSX Venture Exchange
under the ticker symbol IFX. Additional information is available at
www.imaflex.com.
Cautionary Statement on Forward
Looking Information
Certain information included in this press
release constitutes "forward-looking" statements within the meaning
of Canadian securities laws. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by the management of the Corporation,
are inherently subject to significant business, economic and
competitive uncertainties, risks and contingencies. The Corporation
cautions the reader that such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may
cause the actual financial results, performance or achievements of
Imaflex to be materially different from the Corporation's estimated
future results, performance or achievements expressed or implied by
those forward-looking statements and that the forward-looking
statements are not guarantees of future performance. These
statements are also based on certain factors and assumptions. For
more details on these estimates, risks, assumptions and factors,
see the Corporation's most recent Management Discussion and
Analysis filed on SEDAR at www.sedar.com and on the investor
section of the Corporation's website at www.imaflex.com. The
Corporation disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
events or otherwise, except as expressly required by law. Readers
are cautioned not to put undue reliance on these forward-looking
statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Imaflex Inc.