Superior Plus Announces Strategic Leadership Changes

TORONTO--(BUSINESS WIRE)--Today, Superior Plus Corp. (“Superior” or “the company”) (TSX: SPB), a leading player in low-carbon energy distribution, announced significant changes to its executive leadership team.

In line with the company’s strategy to evolve into a next-generation low-carbon energy distribution company, Superior is taking deliberate steps to enable this strategy by transforming its leadership team. The changes announced today mark a new era for the company, and an important step in building an organization focused on creating shareholder value and providing next-generation energy solutions through organic growth and operational excellence.

The company proudly introduces the following key executive leadership changes:

Grier Colter, Chief Financial Officer: Grier is an established public company Chief Financial Officer with an impressive history of overseeing companies during periods of change. He holds substantial financial expertise spanning various sectors, including financial services, mining, retail, and real estate. Additionally, he brings deep experience in corporate finance and capital markets. Grier's background and previous accomplishments will be immensely beneficial as Superior strives to create shareholder value via organic growth and operational excellence. Before joining Superior, he served as the Chief Financial Officer at Lifeworks Inc. (formerly Morneau Shepell), following his tenure as Chief Financial Officer at ECN Capital.

In addition to Grier’s appointment, a new Chief Human Resources Officer will join the executive leadership team in the coming weeks.

As a result of these changes, Beth Summers, Executive Vice President and Chief Financial Officer, has left the company, effective immediately. The board and management team extend their gratitude to Beth for her contributions and dedicated service to Superior.

“I am confident that these leadership changes will accelerate Superior into its next phase of growth. Our new executives’ leadership and experience align seamlessly with our commitment to creating long-term shareholder value and Superior's unwavering dedication to being the North American leader in low-carbon energy distribution," said Allan MacDonald, Chief Executive Officer, Superior Plus Corp.

About Superior Plus

Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 936,500 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.

Forward-Looking Information

This news release contains certain forward-looking information and statements based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", “anticipates”, "annualized", and similar expressions.

In particular, this news release contains forward-looking statements and information relating to an expected leadership change and the timing thereof. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached. These forward-looking statements are not guarantees of future performance and are subject to several known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2022, which can be found at www.sedar.com.

Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws.