Global Processing

Directors of Maple Leaf Foods Quit

November 1, 2010
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.