Q: Your thoughts please on the executive changes at Savaria?
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5i Research Answer:
SIS appointed Sebastien Bourassa to the position of President and Chief Executive Officer, while Marcel Bourassa will become Executive Chairman. Both these changes will be effective January 1, 2024. Marcel Bourassa will focus on strategic acquisitions and the development of the ‘Savaria One’ initiative. Sebastien Bourassa’s promotion comes after a successful tenure leading the company’s global expansion. We think this is a fine move, despite it seeming drastic since Marcel Bourassa has held his position since 2002, it seems to be more of a strategic repositioning and 'passing the torch'.