DAVIDsTEA Inc. (DTEA) CEO Toutant to Resign

October 21, 2016 8:31 AM EDT

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DAVIDsTEA Inc. (Nasdaq: DTEA) announced that Sylvain Toutant, the Company’s President and Chief Executive Officer, will be leaving the Company to pursue other interests. It is the intention of both the Company and Mr. Toutant that he will serve in his current role until the end of the current fiscal year. Upon the effective date of his departure, Mr. Toutant will also cease his directorship held with the Company.

Maurice Tousson, Chairman of the Company’s Board of Directors, stated, “Sylvain has been instrumental in expanding the DAVIDsTEA brand and executing against our key priorities as well as navigating our transition from private to public ownership. He has assembled a talented and capable team across all functional areas of the organization. We would like to thank him for his many contributions and wish him the best in his future endeavors. We will be conducting a North America-wide search for a successor.”

Sylvain Toutant added, “This decision to move on has not been an easy one to make, but it is the right one from a personal standpoint and for my family. DAVIDsTEA is fortunate to have a bench of talent across the company and a team that is so passionate about its purpose and mantra. It has been a privilege to work with each and every one of them to drive growth and awareness of this unique and special brand.”

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