CORPORATE ANNOUNCEMENT

CORPORATE ANNOUNCEMENT
March 31, 2020

To the Monarch Board Members, our Leadership Groups, and to our Family of Employees:

As Chairman, President & CEO of The Monarch Corporation, I am pleased to announce today the appointment of Mr. Brian Lund, of Calgary, Alberta, to the position of President & Chief Operating Officer of The Monarch Corporation, effective immediately. Going forward, I will continue to act as Chairman of the Board of Advisors and the Chief Executive Officer of The Monarch Corporation. Brian will report directly to me.

Brian has had an extensive working relationship with The Monarch Corporation for over 20 years and has experience in administrative, financial and operational roles over that period. Brian has a Bachelor of Science (Math, Physics) from Mount Allison University, as well as a Bachelor of Applied Science (Electrical Engineering – Deans List) from the University of Waterloo. Brian brings a vast business and managerial background and I am delighted to see him assume this role.

This transition provides me the opportunity to step back from day to day duties and responsibilities, and turn them over into the capable hands of Brian. We will continue to seek a rising level of profitability and earnings, and at the same time enrich the social and economic fabric of the communities we serve. I am confident that Brian will receive the same level of support and respect that I have received from everyone over the years.

Bill Yuill
Chairman & CEO