Saputo announces management shuffle

Dairy giant Saputo Inc. says Kai Bockmann is stepping down as the company's president and chief operating officer ahead of his retirement this March.

The Montreal-based dairy processor says effective immediately Carl Colizza, president and chief operating officer of North America, and Leanne Cutts, president and chief operating officer of international and Europe, will report to Lino A. Saputo.

Saputo will now serve as president in addition to his role as board chairman and chief executive.

He says Bockmann contributed to building a strong and diverse leadership team over the last 10 years.

The company has struggled in recent months as COVID-19 disruptions, labour shortages and supply chain turmoil weighed on it's bottom line.

Saputo has ushered in price increases to cope with inflation, yet the company said in November those higher prices are failing to keep up with rising costs.