Michael H. Vels

Chief Financial Officer, Maple Leaf Foods Inc.; Canada Bread Company, Limited

Business Division: Corporate

Michael Vels is Chief Financial Officer of Maple Leaf Foods Inc. He is also Chief Financial Officer of Canada Bread Company, Limited which is 90% owned by Maple Leaf Foods Inc.

Mr. Vels joined the company in 1991 during which time, he has held senior finance positions of increasing responsibility including: Financial Controller (1991); Vice-President and Corporate Controller (1992 to1993); Vice-President, Finance (1993 to 1995); Senior Vice-President, Finance (1995 to 1998); and Executive Vice-President, Finance (1999 to 2004). He was appointed to his current responsibilities in March 2004.

During his tenure, the Finance Group at Maple Leaf Foods has supported the rebuilding of the business and the industry, while at the same time bringing an extremely high level of business support tools and value-add to the Company, including installation of standard finance systems and leading edge insight tools. This has included a significant level of financial activity including numerous acquisitions and divestitures and the completion of several large and complex financing transactions.

Mr. Vels received his Chartered Accountant designation in South Africa in 1985, while articling with a major accounting firm. He then worked for several years in the United Kingdom, specializing in mergers and acquisitions. Shortly after transferring to Canada, Mr. Vels joined the company at the time of the merger between Maple Leaf Mills and Canada Packers in 1991.

(January 2012)