Goodfood Announces Leadership Transition

About this update from Goodfood Market Corp.

MONTREAL, Aug. 4, 2026 /CNW/ -- Goodfood Market Corp. ("Goodfood" or the "Company") (TSX: FOOD), today announced that Selim A. Bassoul has resigned as Chief Executive Officer and as a member of the Board of Directors, effective August 3, 2026.  Concurrently, Goodfood announced the appointment of Najib Maalouf as Chief Executive Officer. Mr. Maalouf has served as the Company's President and Chief Operating Officer since March 2026, and the Board's decision reflects its confidence in the continuity of the Company's leadership, strategy and day-to-day operations, as well as its ongoing review of strategic options. "Mr. Maalouf's deep knowledge of our operations, culture, strategic priorities, and proven results make him the right leader to guide Goodfood forward," said Donald Olds, Lead Independent Director. "His appointment ensures continuity in the execution of our strategy at an important time for the Company as we carefully weigh our strategic options." "I'm honoured to lead Goodfood into its next chapter," said Mr. Maalouf. "Having worked closely with our teams over the past several months, I look forward to building on the progress we've made, continuing to execute our strategy and delivering for our customers while making the right decisions for all of our key stakeholders." Since joining Goodfood as President and Chief Operating Officer, Mr. Maalouf has played a key role in improving the Company's operational efficiency and evolving its business model. The Board expects no changes to strategic priorities or day-to-day operations as a result of this leadership transition including its ongoing strategic review process. The Board of Directors also expressed its appreciation for Mr. Bassoul's leadership during a period of significant change. "On behalf of the Board, I would like to thank Selim for his commitment, leadership and tireless efforts over the past year," said Donald Olds, Lead Independent Director. "His work helped reshape the Company's operating model, improve cash generation, and position Goodfood to pursue the next phase of its strategic process. We wish him every success in his future endeavours." Mr. Bassoul commented: "Serving Goodfood has been a privilege. I am proud of what our team accomplished together under challenging circumstances. Over the past several months, our employees demonstrated remarkable resilience and commitm...

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