MTY Food Group Inc. announced that its founder Mr. Stanley Ma has indicated to the board of directors he will be stepping down as chief executive officer of the company effective November 2, 2018. While Mr. Ma will retain his role as the Chairman of the Board of Directors of the Company, Mr. Eric Lefebvre will become the chief executive officer of the Company. Mr. Lefebvre has joined the Company in 2009 and is currently the CFO of MTY.

Mrs. Claude St-Pierre will also be stepping down from her role as COO of MTY on November 2, 2018 to concentrate on the execution of the Company's acquisition strategy. Mrs. St-Pierre will retain her role as a director and secretary of MTY. During the transition period, Mr. Lefebvre will gather a team of executives that will be taking over Mrs. St-Pierre's duties and will make recommendations to the Board of Directors to name a new CFO.

Those functions are expected to be mostly shared among MTY's current management team. Eric Lefebvre has joined MTY in 2009 as Vice-President and Controller. He quickly was promoted into the Chief Financial Officer role, which he occupies since 2012.

Mr. Lefebvre has played an active role in the steady growth of MTY.