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Food & Beverage

Directors of Maple Leaf Foods Quit

November 01, 2010
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Two directors of Maple Leaf Foods Inc. resigned from the board over a dispute about the company''s plan to restructure its operations, Canada''s food processor said, reports the Associated Press. Maple Leaf Foods said the two directors represent a major shareholder, the Ontario Teachers'' Pension Plan. The pair stepped down from the board, after a $740 million reorganization was passed without their approval. The pension fund investor holds a 25-percent stake in the company and the resignations raise speculation the investor could attempt to sell its entire stake in Maple Leaf.
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