MONTREAL, Jan. 17, 2022 /CNW Telbec/ - Velan Inc. ("Velan"
or the "Company") (TSX: VLN) announced today that Mr. Bruno Carbonaro has been appointed as a member
of the Board of Directors. The outgoing Director, Yves Leduc, will continue to serve as special
advisor to the Chairman of the company. Mr. Carbonaro, who joined
the Company in 2019, has recently succeeded Yves Leduc as President and CEO. He has
extensive experience in the engineered products industry, having
worked in senior leadership positions at various companies.
Ms. Suzanne Blanchet, appointed
to the Board last July, has been appointed Chair of the Audit
Committee, a position previously held by William Sheffield. Ms. Blanchet is also member
of the Corporate Governance and Human Resources Committee.
James Mannebach, Chairman of the
Corporation stated, "These changes are part of the ongoing board
renewal process. I believe that the appointment of Mr. Bruno Carbonaro and Suzanne Blanchet as Chair of the Audit Committee
are positive steps for the future of the company."
Bruno Carbonaro stated, "I am
honoured to be appointed as a member of the Board of Velan and to
serve as the leader of this renowned company. Working closely with
our Board is tremendously helpful to gain alignment as Velan is
poised to further capitalize on its market leading technologies,
application knowledge and unsurpassed commitment to our
customers".
Suzanne Blanchet stated, "I am
impressed by the Company's efforts to renew and organize smooth
leadership transitions both at the executive level and the Board of
Directors. I am honoured to serve on the Velan Inc. Board."
About Velan
Founded in Montreal in 1950,
Velan Inc. (www.velan.com) is one of the world's leading
manufacturers of industrial valves, with sales of US$302.1 million in its last reported fiscal
year. The Company employs close to 1,700 people and has
manufacturing plants in 9 countries. Velan Inc. is a public company
with its shares listed on the Toronto Stock Exchange under the
symbol VLN.
Safe harbour statement
This news release may include forward-looking statements, which
generally contain words like "should", "believe", "anticipate",
"plan", "may", "will", "expect", "intend", "continue" or "estimate"
or the negatives of these terms or variations of them or similar
expressions, all of which are subject to risks and uncertainties,
which are disclosed in the Company's filings with the appropriate
securities commissions. While these statements are based on
management's assumptions regarding historical trends, current
conditions and expected future developments, as well as other
factors that it believes are reasonable and appropriate in the
circumstances, no forward-looking statement can be guaranteed and
actual future results may differ materially from those expressed
herein. The Company disclaims any intention or obligation to update
or revise any forward-looking statements contained herein whether
as a result of new information, future events or otherwise, except
as required by the applicable securities laws. The forward-looking
statements contained in this news release are expressly qualified
by this cautionary statement.
SOURCE Velan Inc.