GreenFirst Announces Interim Leadership Structure

NORTH BAY, Ontario--(BUSINESS WIRE)--GreenFirst Forest Products Inc. (TSX: GFP) (“GreenFirst” or the “Company”) today announced its interim leadership structure following the previously announced departure of Chief Executive Officer, Joël Fournier, effective October 30, 2026.

Effective October 31, 2026, Michel Lessard, President, has assumed the additional role of Acting Chief Executive Officer. While Peter Ferrante will continue as Chief Financial Officer with expanded executive leadership responsibilities. Together, they will form GreenFirst's interim executive leadership team, jointly responsible for managing the Company and executing its operational, financial and strategic priorities.

Under this structure, Mr. Lessard will focus on external relationships, commercial activities, forestry and human resources, while Mr. Ferrante will focus on internal operations, enterprise performance, financial discipline and business improvement initiatives. Both executives will share accountability for the Company's overall performance and strategic direction.

“The Board has confidence in Michel and Peter and believes this joint leadership structure provides GreenFirst with the experience and focus required to execute on the Company’s priorities,” said Paul Rivett, Chairman of GreenFirst. “They bring complementary strengths and will work together to improve operational and financial performance while pursuing opportunities to strengthen and grow GreenFirst.”

“We are aligned on the priorities ahead and committed to working together to strengthen GreenFirst,” said Michel Lessard. “Our shared focus is on improving the business, pursuing opportunities for growth and positioning GreenFirst for long-term success.”

“Our priority is to translate those objectives into measurable results,” said Peter Ferrante. “We will focus on strengthening operational and financial discipline, improving performance across the business, and driving sustainable improvements in profitability and cash generation.”

The Company’s near-term priorities include completing its 2027 Business Plan, advancing operational and financial improvement initiatives, prioritizing capital requirements and maintaining a disciplined focus on liquidity and cash generation.

About GreenFirst

GreenFirst Forest Products is a forest-first business, focused on sustainable forest management and lumber production. The Company owns four sawmills located in rich wood baskets proudly operating over 6 million hectares of FSC^® certified public Ontario forestlands (FSC^®-C167905). The Company believes that responsible forest practices, coupled with the long-term green advantage of lumber, provides GreenFirst with significant cyclical and secular advantages in building products.

For more information, please visit: www.greenfirst.ca.