Velan Inc., whose world headquarters are located in Montreal, Quebec, has announced the completion of its Chief Executive Officer (CEO) succession plan with the appointment of Yves Leduc as CEO. Leduc was also elected to the board of directors of the company. Leduc, who was hired in January 2015 as President, has become the first non-Velan family member to lead the valve manufacturing company.
Mr. Tom Velan, who has retired from his CEO position, will continue to serve as Chairman of the Board. He has worked for the company for 44 years, the last 14 years as the leader of the company.
Leduc stated “I am proud and privileged to succeed Tom as our company’s new CEO and believe I am well prepared for the role thanks to what has been a successful transition plan, and in particular, to Tom’s invaluable counseling and to the support of both the Board and the Velan family.”