Weyburn Inland Terminal announced that its CEO, Rob Davies, had advised the WIT board he will resign five business days following the special meeting of WIT shareholders on Friday, Feb. 28.
The meeting is being held to approve the previously announced plan of arrangement under which Parrish & Heimbecker (P&H) proposes to acquire all of the issued and outstanding common shares of WIT. An information circular will be mailed by WIT to its shareholders, with all the relevant information regarding the proposed plan of arrangement on Feb. 6.
"The 15 years I have spent with WIT were challenging, but very satisfying" said Davies. "The board of directors, the staff, the customers and the shareholders have built a tremendous business, and I will always appreciate the opportunity I had to be a part of this group. Our industry has evolved, and so has WIT."
"I am certain that the path forward with P&H that the directors have unanimously recommended shareholders accept is absolutely the right decision, and that it will provide the best opportunity for both our staff and customers in the future," said Davies.
WIT President Claude Carles commented on the leadership and vision that Davies had provided throughout his years at WIT. "Rob's insight and involvement in various agriculture industry associations and boards of directors, as well as Ag. Canada task forces and working groups, have provided the WIT board with an inside view of the grain handling industry that has helped us to be successful."
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