USA – As part of its strategic move to spin off its pork business by 2025, Maple Leaf Foods Inc. has appointed Deepak Bhandari as the chief financial officer for its newly formed Pork Complex, effective September.
Bhandari’s return to Maple Leaf Foods marks a significant step in the company’s transition, as he previously spent 13 years in various senior finance roles within the organization.
His deep understanding of the company’s pork operations and the broader business environment positions him well to guide the financial strategy during this crucial period.
“We are excited to have Deepak back on board,” said Dennis Organ, president of the Pork Complex and incoming CEO of the new entity.
“With his extensive experience and familiarity with our operations, we are confident in his ability to lead our financial efforts as we finalize the spin-off and begin operating as an independent company.”
Before this role, Bhandari served as interim CFO at High Liner Foods and held the position of senior vice president of strategy and corporate development.
He holds a bachelor’s degree in genetics from the University of Alberta and an MBA from the Schulich School of Business at York University.
Maple Leaf Foods announced its intention to divide into two publicly traded companies earlier this year, with one focusing solely on the pork industry.
The company indicated that both entities are well-positioned for future growth. The name of the new pork business is expected to be revealed in the coming months.
Maple Leaf Foods, headquartered in Mississauga, Ontario, employs approximately 13,500 people and operates mainly in Canada, the United States, and Asia.
The announcement follows the company’s latest financial report, which showed a reduced net loss of US$26.2 million for the recent quarter, an improvement from the US$53.7 million loss reported in the same period last year.
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