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Shermag CEO Casselman Resigns

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Shermag Inc. announced that Jeffrey Casselman has resigned as President and Chief Executive Officer of the Company effective immediately. The Board of Directors has undertaken a process to replace Mr. Casselman and the day to day affairs of the Company will be managed by an executive committee of management with the guidance of a committee of the Board of Directors until the completion of such process. Claude Pichette, Chairman of the Shermag Board of Directors, commented on the formation of the committee, saying “The Board will become more active in the administration of the Company, as it transitions to permanent new leadership. The daily operation of Shermag will not be affected, and we have every confidence that efforts made over the course of the next few months will be beneficial to the Company in the long term”. About Shermag: Shermag Inc., headquartered in Sherbrooke, Québec, is a leader in the design, production, marketing and distribution of high-quality residential furniture. The Company employs approximately 1,100 people and is a vertically integrated manufacturer and importer with its own cutting rights, sawmill, veneer facility, manufacturing operations and global sourcing division.

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