MONTRÉAL, Aug. 16, 2022 /CNW Telbec/ - 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.

This press release may contain forward-looking statements which reflect management's expectations related to expected future events. This forward-looking information typically contains the word "will" or other similar terms. These forward-looking statements are not facts, but only reflections of management's estimates and expectations. Although Metro believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a number of factors that could cause actual results to differ materially from management's expectations as set forth in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties discussed in the "Risk Factors" section in disclosure materials filed from time to time with Canadian securities regulatory authorities.

The forward-looking statements included in this press release are made only as of the date hereof and Metro does not undertake to publicly update these forward-looking statements to reflect new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events contained in these forward-looking statements may or may not occur. Metro cannot assure that projected results or events will be achieved.

With annual sales of $18 billion, METRO Inc. is a food and pharmacy leader in Québec and Ontario. Its purpose is to Nourish the health and well-being of our communities. As a retailer, franchisor, distributor, and manufacturer, the company operates or services a network of some 950 food stores under several banners including Metro, Metro Plus, Super C and Food Basics, as well as some 650 drugstores primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners, providing employment to more than 90,000 people. For more details, visit corpo.metro.ca.

SOURCE METRO INC.

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