Savaria Announces Two Key Changes for Leadership

LAVAL, Québec, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria”) (TSX: SIS) a global leader in the accessibility industry, announces the appointment of Sébastien Bourassa to the position of President and Chief Executive Officer, while Marcel Bourassa will become Executive Chairman of the Board. Both changes are effective January 1^st, 2024.

“I purchased Savaria 34 years ago and I am so proud of what we have accomplished together as a company. From a small Québec operation, to a global leader in our industry, it has been a fantastic journey. People who have met me know that Savaria is my passion. In my new role, I will focus on our acquisition strategy and the Savaria One initiatives that will contribute to our growth plans, while serving as a mentor to Savaria’s next generation of leaders,” said Marcel Bourassa.

Sébastien Bourassa has truly grown up in the business learning technical operations, sales functions and overall business strategy. He has a proven track record of pioneering key manufacturing expansion sites including Savaria Huizhou (China) in 2007, and more recently leading the planning and opening of Savaria Mexico in 2022. Mr. Sébastien Bourassa is currently Chief Operating Officer of Savaria and prior to that he held the position of Vice President, Operations and Integration.

“I am excited for the future and also humbled by this opportunity to lead Savaria alongside our management team. It has been my life and I still love to go into the field to meet customers and participate in installations around the world. It energizes me to find ways for us to grow, to improve, and to have fun doing important work that helps people improve their mobility,” concluded Sébastien Bourassa.

Mr. Marcel Bourassa is currently President, CEO and Chairman of Savaria. He has held these positions since 2002 when Savaria became publicly traded on the Toronto Stock Exchange (TSX).

About Savaria Corporation

Savaria Corporation () is a global leader in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and elevators for home and commercial use. It also manufactures and markets a comprehensive selection of pressure management products for the medical market, medical beds for the long-term care market, as well as an extensive line of medical equipment and solutions for the safe handling of patients, including ceiling lifts and slings. In addition, Savaria converts and adapts vehicles for personal and commercial uses. The Corporation operates a sales network of dealers worldwide and direct sales offices in North America, Europe (UK, The Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic), Australia and China. Savaria employs approximately 2,250 people globally and its plants are located across Canada, the United States, Mexico, Europe and China.