MONTREAL, Dec. 13 /CNW Telbec/ - TransForce Income Fund (TSX: TIF.UN), the leader in the Canadian transportation and logistics industry, today announced that Lucien Bouchard has been named to the Fund's Board of Trustees, effective December 13, 2007.
Mr. Bouchard is a partner in the law firm of Davies Ward Phillips and Vineberg LLP where he practises corporate and commercial law, is a negotiator and mediator for significant commercial and labour disputes, and advises large corporations on strategy and policy. He was Premier of Quebec from 1996 to 2001, served in the Federal Cabinet and was Leader of the Opposition in the House of Commons. Prior to his political career, Mr. Bouchard was Canada's ambassador to France from 1985 to 1988.
In addition to his law practice, Mr. Bouchard is Chairman of the Board of Directors of the Orchestre Symphonique de Montreal, management committee member of Jeunesses Musicales du Canada, member of the Boards of directors of Groupe Saputo Inc., Transcontinental Inc., Centre d'etudes et de recherches internationales de l'Universite de Montreal and BMTC Group Inc.
"We are very pleased to welcome Lucien Bouchard to the TransForce Board of Trustees. His experience, expertise and insights are sure to be valuable to the Board and to the unitholders of the Fund," said Alain Bedard, Chairman, President and CEO of TransForce.
TransForce also announced that two Trustees, Mrs. Katherine Rethy, Chair of the Corporate Governance Committee and Ms. Sheila O'Brien, Chair of the Human Resources Committee, have resigned from the Board of Trustees effective December 11, 2007.
"On behalf of their fellow trustees, I want to thank Katherine and Sheila for their contributions during their time on the Board. Their efforts were appreciated and we wish them both well," Mr. Bedard said.
The TransForce Board of Trustees has reorganized its committees to reflect the changes in the composition of the Board. The Audit Committee is chaired by Ronald Rogers and includes Andre Berard and Richard Guay. Mr. Bouchard chairs the Corporate Governance and Nominating Committee which also includes Mr. Berard, Mr. Rogers and Joe Marsilii. The Human Resources and Compensation Committee is chaired by Mr. Guay and also includes Joey Saputo and H. John Stollery
Profile
TransForce Income Fund (www.transforce.ca) is the leader in Canada's transportation and logistics industry. Headquartered in Montreal, Quebec, the Fund's objective is to create value for unitholders through managing and investing in a growing network of independent operating subsidiaries. TransForce provides a comprehensive and unique combination of capabilities, resources and geographical coverage in both domestic and trans-border markets. Its companies operate in four well-defined business segments:
- Less Than Truckload and Parcel Delivery; - Specialized Services, which includes its ancillary transportation services and fleet management & personnel services businesses; - Specialized Truckload; and - Truckload.
TransForce's trust units (TIF.UN) are listed on the Toronto Stock Exchange and are included in the S&P/TSX Composite Index.
Forward-Looking Statements
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of TransForce. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for TransForce's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.