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Metanex Announces New President and CEO Effective January 1, 2023, Canadian Business Journal

VANCOUVER, British Columbia, September 15, 2022 (GLOBE NEWSWIRE) — The Board of Directors of Metanex Corporation (TSX:MX) (NASDAQ:MEOH) (the “Board”) announced today that John Floren is stepping down as President and CEO. , the Board of Directors has appointed Rich Sumner as President and Chief Executive Officer and a member of the Board, effective January 1, 2023. Mr. Sumner currently serves as his president of senior vice of global marketing at Metanex. He is & Logistics and has been with the company since 2004.

Doug Arnell, Chairman of the Board of Metanex, said: Rich is a proven leader who brings a thoughtful and forward-thinking perspective along with the strategic vision needed to guide Metanex into the future. Rich has a deep understanding of Metanex’s business and the methanol industry and how he and the team at Metanex have built a strong history for the company, further advancing its leadership position in the methanol industry and creating meaningful long-term shareholder value. allow us to provide “

“On behalf of Metanex and the entire Board of Directors, I would like to thank John Floren for his strong and consistent leadership as President and CEO over the past decade. Successfully expanded production footprint, increased profitability, achieved strong cash flow and meaningful shareholder returns.The Board thanked John for his contributions in putting the company in an extremely good position for the future. “We are doing it,” said Arnell.
Rich Summer commented: We look forward to executing on Metanex’s strategy, maintaining a balanced approach to capital allocation, and capitalizing on the opportunities that lie ahead of us, including methanol’s role in the transition to a low-carbon economy. “

John Floren says: Metanex continues to be a leader in the global methanol industry with a strong production footprint and an unmatched global supply chain. Rich has an extensive understanding of the Metanex business and industry, and I look forward to helping him lead Metanex into its next chapter. “

Biography of Rich Sumner
Rich Summer is currently Senior Vice President of Global Marketing and Logistics for Metanex. In this role, Mr. Sumner oversees Metanex’s marketing and logistics functions, including his shipping and global market development for his jointly owned shipping subsidiary, Waterfront. He is also the managing director of Metanex’s North American manufacturing operations. Mr. Sumner focuses on strategies to strengthen Metanex’s global leadership position as the world’s largest producer and supplier of methanol. Prior to his current role, he held various senior leadership roles in Marketing and Logistics, working in both North America and Asia, leading the Supply Chain function. Additionally, Mr. Sumner has a strong financial background and has held several senior financial management positions at Metanex. Mr. Sumner holds a Bachelor of Business Administration from Fraser University and is a CPA.

Biography of John Floren
Metanex President and CEO John Floren has been with Metanex since 2000 and was appointed President and CEO in 2013. Under John’s leadership, Metanex increased production, improved profitability, delivered strong cash flow and maintained a balanced approach to capital allocation, including returns. Approximately $2 billion to shareholders through share buybacks and quarterly dividends.

Metanex is a publicly traded company based in Vancouver and the world’s largest producer and supplier of methanol to major international markets. Metanex shares are listed on the Toronto Stock Exchange in Canada under the trading symbol ‘MX’ and on his NASDAQ Global Market in the United States under the trading symbol ‘MEOH’.

For more information, please contact:

Sarah Herriot
Director, Investor Relations
Metanex Co., Ltd.
604 661-2600 or toll-free: 1 800 661 8851

CBJ Newsmaker

Metanex Announces New President and CEO Effective January 1, 2023, Canadian Business Journal

Source link Metanex Announces New President and CEO Effective January 1, 2023, Canadian Business Journal

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