Hugues Simon will succeed Mario Plourde as president of Cascades

Hugues Simon will succeed Mario Plourde as president of Cascades
Hugues Simon will succeed Mario Plourde as president of Cascades

(Photo: The Canadian Press)

Paper and recycling giant Cascades announces that Hugues Simon, currently working for Resolute Forest Products, will become its next president and CEO.

In a press release released Thursday morning, the Kingsey Falls company confirmed that Hugues Simon, who currently holds the position of president for wood products at Resolute, will take up his position by July 1.

He will then succeed Mario Plourde, who will retire after 40 years at Cascades, including 11 years at the head of the company. Mario Plourde will still ensure a transition period until December, before moving on to the role of special advisor.

According to Cascades Chairman of the Board of Directors, Patrick Lemaire, Hugues Simon’s “extensive experience in leadership positions in the industrial products sector” will be an important asset for the company.

“His roadmap demonstrates a deep commitment to operational excellence and we have full confidence in his qualities and experience to continue to advance Cascades and create value for our shareholders,” he underlined in writing. .

Before joining Résolu, Hugues Simon was notably president of BarretteWood, where he worked from 2012 to 2020. He has a degree in administration from the University of Sherbrooke.

Last week, Cascades reported an operating profit of $9 million in the first quarter, compared to a loss of $80 million for the same period in 2023.

Its sales reached $1.11 billion in the first quarter, down $25 million compared to the same period last year.

According to Mario Plourde, “the results for the first quarter of 2024 meet expectations, given the context of high raw material prices and continued inflationary pressure on our operating costs”.

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