Leadership changes at the Pharmacy Division of METRO

August 19, 2022

METRO INC. announces that Mr. Jean-Michel Coutu will be appointed President, The Jean Coutu Group (PJC) Inc., a wholly-owned subsidiary of METRO INC. (TSX: MRU), on September 26, 2022.

He will succeed Mr. Alain Champagne who will be leaving the company to become President and Chief Executive Officer of a privately held Québec company operating in a different sector.

Since joining METRO in 2019, Mr. Champagne has successfully led the combination of the Jean Coutu Group and METRO, delivering the synergies required while ensuring the profitable growth of our banners. He leaves our pharmacy division, our banners and our pharmacists owners well positioned for the future. We thank him for his contributions and leadership and wish him well in his new position.

Mr. Coutu has been with the company since 2009 after working in the industry for several years. As a pharmacist and a business executive who has worked in the United States and Canada, he has deep knowledge of the industry, our operations and our opportunities. Mr. Coutu will continue to execute our strategy and business plans which have allowed METRO to remain the leader in pharmacy in Québec through our Jean Coutu and Brunet banners while supporting the success of the pharmacists owners affiliated to our banners.

Mr. Champagne and Mr. Coutu will work closely together until the end of September to ensure a smooth transition.