NFI Announces Updates to Board Leadership
'On behalf of the Company, I would like to thank Mr. Galbato for his service, dedication and the significant effort and energy that he devoted to NFI,' said Paul Soubry, President and Chief Executive Officer of NFI.
Mr. Robertson has served on NFI's Board since 2020 and brings over 30 years of global manufacturing and leadership experience, including 13 years as Chief Executive Officer of Alexander Dennis Limited (AD), acquired by NFI in 2019. Mr. Robertson previously held executive positions with global engine and power generation leader Cummins Inc., and Terex Corporation, a leading manufacturer of lifting and material handling equipment.
'NFI is uniquely positioned to capitalize on compelling market opportunities as it advances its leadership in bus and coach technology, manufacturing, and aftermarket services,' said Mr. Robertson, NFI's new Board Chair. 'The Company is poised to deliver significant value creation, and I look forward to working closely with my fellow directors and the leadership team as we drive NFI forward.'
Given that Mr. Galbato has stepped down from the Board, his nomination has been removed from the slate of directors proposed to be elected at the upcoming meeting of Company's shareholders and the Company will proceed to nominate the other ten candidates.
About NFI
Leveraging 450 years of combined experience, NFI offers a wide range of propulsion agnostic bus and coach platforms, including market leading electric models. Through its low- and zero-emission buses and coaches, infrastructure, and technology, NFI meets today's urban demands for scalable smart mobility solutions. Together, NFI is enabling more livable cities through connected, clean, and sustainable transportation.
With nearly 9,000 team members in ten countries, NFI is a leading global bus manufacturer of mass mobility solutions under the brands New Flyer® (heavy-duty transit buses), MCI® (motorcoaches), Alexander Dennis Limited (single- and double-deck buses), Plaxton (motorcoaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI currently offers the widest range of sustainable drive systems available, including zero-emission electric (trolley, battery, and fuel cell), natural gas, electric hybrid, and clean diesel. In total, NFI supports its installed base of over 100,000 buses and coaches around the world. NFI's common shares trade on the Toronto Stock Exchange (TSX) under the symbol NFI and its convertible unsecured debentures trade on the TSX under the symbol NFI.DB. News and information is available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, nfi.parts, www.alexander-dennis.com, arbocsv.com, and carfaircomposites.com.
Forward-Looking Statement
This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI that involve risks and uncertainties. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions (including as a result of tariffs and other trade measures) and economic conditions of and funding availability for customers to purchase buses and to purchase parts or services (including as a result of recent U.S. policy developments); customers may not exercise options to purchase additional buses; the ability of customers to suspend or terminate contracts for convenience; production may be delayed or production rates may be decreased as a result of ongoing and future supply chain disruptions and shortages of parts and components, shipping and freight delays, and disruption to and shortage of labor supply; and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedarplus.ca.
Due to the potential impact of these factors, NFI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
For investor and media inquiries, please contact: Stephen King P: 204.792.1300 Stephen.King@nfigroup.comSign in to access your portfolio
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
29 minutes ago
- Business Wire
Alibaba Group Announces Proposed Offering of Approximately HK$12 Billion of Zero Coupon Exchangeable Bonds
HONG KONG--(BUSINESS WIRE)--Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988 (HKD Counter) and 89988 (RMB Counter), 'Alibaba,' 'Alibaba Group' or the 'Company') today announced a proposed exchangeable bond offering (the 'Bond Offering') by reference to the ordinary shares of Alibaba Health Information Technology Limited ('Alibaba Health') that are listed on The Stock Exchange of Hong Kong Limited (the 'Hong Kong Stock Exchange') (HKEX: 00241) ('AH Shares'). Subject to market and other conditions, the Company proposes to issue approximately HK$12 billion aggregate principal amount of Zero Coupon Exchangeable Bonds due 2032 (the 'Bonds') in a private offering to certain non-U.S. persons in offshore transactions outside the United States in reliance on Regulation S under the U.S. Securities Act of 1933, as amended (the 'Securities Act'). When issued, the Bonds will be unsecured and unsubordinated obligations of Alibaba Group. The Bonds will not bear regular interest. The Bonds will mature on July 9, 2032, unless earlier redeemed, exchanged or purchased in accordance with their terms prior to such date. Holders of the Bonds may exchange all or any portion of the Bonds at their option at any time on or after the 41st day following the issue date of the Bonds to, and including, the close of business on the fifth scheduled trading day immediately preceding the maturity date of the Bonds. Upon exchange, the Company may, at its option, elect to satisfy its exchange obligation by delivering AH Shares, cash, or a combination of cash and AH Shares, each in accordance with the terms set forth in the Bonds. The initial exchange price and other terms of the Bonds will be determined at the time of pricing of the Bonds. Alibaba Health is a consolidated subsidiary of Alibaba Group, in which Alibaba Group holds approximately 64% of equity interest. Alibaba Group expects Alibaba Health to remain a flagship healthcare platform and consolidated subsidiary of Alibaba Group both upon issuance and following any future exchange of the Bonds into AH Shares, and will continue close collaboration with Alibaba Health and members of Alibaba ecosystem to drive 'AI + Healthcare' industry transformation. Alibaba Group intends to use the net proceeds from the Bond Offering for general corporate purposes, including investments to support the development of our cloud infrastructure and international commerce businesses. Investor Hedging Transactions The Company expects that certain purchasers of the Bonds may employ a convertible arbitrage strategy by short selling AH Shares or by entering into short derivative positions with respect to AH Shares to hedge their exposure to the Bonds. Any such activity could take place concurrently with or shortly after the pricing of the Bonds and could lead to any decline (or offset against any appreciation) of the market price of AH Shares or any securities referencing AH Shares, including the Bonds. Further, such investors may dynamically modify their hedges from time to time while the Bonds are outstanding, by short selling or purchasing AH Shares in secondary market transactions or entering into equivalent derivative positions, which could affect the market price of AH Shares or any securities referencing AH Shares at the time, including the Bonds. Concurrently with the pricing of the Bonds, certain bookrunners of the Bond Offering expect to facilitate a sale of AH Shares, representing the expected initial delta of such hedging investors' short position, in privately negotiated transactions solely to non-U.S. persons outside of the United States (such sale, a 'Delta Placement'). In connection with the Delta Placement, a wholly-owned subsidiary of the Company (the 'Lender') has entered into a stock borrowing and lending arrangement with an affiliate of one of the bookrunners (the 'Borrower'), pursuant to which the Lender has committed to lending a certain number of AH Shares (the 'Borrowed Shares') to the Borrower. The Borrower has agreed to on-lend a portion of the Borrowed Shares to the other bookrunners to facilitate hedging activities of certain investors in the Bonds. Other Matters The Bonds, the AH Shares deliverable upon exchange of the Bonds, if any, and the Borrowed Shares (collectively, the 'Securities'), have not been and will not be registered under the Securities Act or any U.S. state securities laws, and are being offered and sold to certain non-U.S. persons in offshore transactions outside the United States in reliance on Regulation S under the Securities Act. The Securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, in the United States or elsewhere, and shall not constitute an offer, solicitation or sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release contains information about the pending Bond Offering and Delta Placement of Borrowed Shares, and there can be no assurance that the Bond Offering and/or the Delta Placement of Borrowed Shares will be completed. About Alibaba Group Alibaba Group's mission is to make it easy to do business anywhere. The Company aims to build the future infrastructure of commerce. It does not pursue size or power. It aspires to be a company that will last for 102 years. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'may,' 'will,' 'expect,' 'anticipate,' 'future,' 'aim,' 'estimate,' 'intend,' 'seek,' 'plan,' 'believe,' 'potential,' 'continue,' 'ongoing,' 'target,' 'guidance,' 'is/are likely to' and similar statements. In addition, statements that are not historical facts, including statements about the intended use of proceeds, the terms of the Bonds, the Delta Placement and stock lending arrangement, future relationship between Alibaba Group and Alibaba Health, and whether the Company will complete the Bond Offering, are or contain forward-looking statements. Alibaba may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the 'SEC'), in announcements made on the website of the Hong Kong Stock Exchange, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these risks is included in Alibaba's filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date, and Alibaba does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Business Insider
2 hours ago
- Business Insider
The head of McKinsey shares how he gets employees to tell him what they really think
What does the head of McKinsey & Company, one of the world's most prestigious consulting firms, say is essential to leading high-performing teams? Humor. "A little levity — a joke at your own expense, a lighthearted moment — can go a long way toward building trust, breaking down barriers, and democratizing the team room," Bob Sternfels, McKinsey's global managing partner and chair of the firm's board of directors, told Business Insider in a an email last month. Founded in 1926, McKinsey is approaching its 100th year in business. Sternfels, who was first elected by the firm's senior partners to lead it in 2021, said that while the firm might look and sound different than when it started, its mission and values have remained. He was reelected for a second three-year term in 2024 and heads the firm's 40,000 employees around the globe, a 10% reduction from 18 months prior. In addition to humor, one simple tool he uses to get employees to open up when he visits the firm's offices around the world is walking. "I like to invite small groups of colleagues on walks whenever I visit one of our offices — it's a great way to get moving and hear what's really on people's minds," he said. He also said he likes to join in on fun traditions that colleagues invite him to, like mochi-making in Tokyo, a hot wing challenge in Phoenix, and karaoke in Manila. Participating in these activities helps set a good tone before a town hall, he said, adding, "A little vulnerability on my part helps people open up." Sternfels is leading McKinsey as the consulting industry faces disruption brought on by AI, and the global economy faces major changes. A spokesperson for the firm said in May that AI was driving new levels of productivity and that it planned to hire thousands of new consultants this year. Sternfels said he's drilling down on three main issues in 2025. ("If you know anything about McKinsey consultants, you'll know we rarely have a single answer," he wrote.) They are: distinctive impact with clients, unrivaled employee development, and staying global as a firm. He said McKinsey was committed to professional development, noting Time magazine ranked it the "best company for future leaders" two years in a row. "We're also not shying away from continuing to build a diverse meritocracy. It doesn't matter who you are or where you're from — it only matters what you've got," he wrote. As for what he sees as the biggest growth areas looking forward, he said many CEOs are trying to navigate shifting trade policy and supply chain issues, and that "building a musical around geopolitics" is essential for this moment. Capturing the productivity gains of AI remains top of mind, and it's clear that just incorporating the technology won't be enough. "Companies will have to really rewire their organizations to fully benefit," he said of AI.
Business Wire
4 hours ago
- Business Wire
E3 Lithium Announces Results from Annual General and Special Meeting, Election of Board Chairperson, and Appoints New Chief Financial Officer
CALGARY, Alberta--(BUSINESS WIRE)--E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), 'E3 Lithium' or the 'Company,' a leader in Canadian lithium, is pleased to announce that all items of business were approved at its Annual General and Special Meeting (the 'Meeting') of shareholders held on July 2, 2025, and that the Board of Directors ('the Directors' or the 'Board') has subsequently elected a Chairperson and appointed a new Chief Financial Officer. Results of the Meeting At the Meeting, Shareholders voted in favour of the following, as described in the Company's Management Information Circular (the 'Circular') dated May 16, 2025: As previously announced, John Pantazopoulos retired from the Board of Directors in order to pursue a career in public office. We wish him well in his future endeavours and would like to thank him once again for his many valuable contributions to E3 Lithium over the years. Subsequent to the Meeting, the Directors elected by unanimous resolution Chris Doornbos as Chairperson of the Board. Mr. Doornbos has successfully led E3 Lithium through resource and technology development since 2017 and has been instrumental in developing critical external relationships with industry, government, and stakeholders. This appointment is in line with E3 Lithium's maturation, discussed more fulsomely below. In line with the high standards of corporate governance, the Directors will appoint a lead director at the next board meeting. The Board also reconfirmed the Company's subcommittee's including Tina Craft as audit committee chair, Alexandra Cattelan as compensation and human resources committee chair, and Kevin Stashin as governance chair. Message from the Incoming Chair of the Board I am honoured to have been elected as the Chairperson for E3 Lithium. Several years ago, the Company put in place a plan to transition from a junior explorer and technology developer to a successful mineral producer. These transitions take time, and the Company aims to ensure we are well positioned for eventual construction and operations of a first-of-its-kind lithium processing facility. As part of this evolution, the Company has focused on building a leadership structure that reflects the critical skill sets and industry experience required to guide the next phase of growth and development. Nearly two years ago, the Board of Directors was expanded to strengthen its governance and strategic capabilities, with the appointments of Alexandra Cattelan, Tina Craft, and the Hon. Sonya Savage. They joined Kevin Stashin, who had been appointed to the Board in 2021. The transition plan is focussed on ensuring the right team is in place at an executive level to align with the growing demands of the business. Included with this is the plan to recruit a President to the Company who will be responsible for managing the internal day-to-day operations and functions of the Company. This includes the continual expansion of the design and construction team to deliver our commitment to build and operate a first-of-its-kind lithium facility in Alberta. This is a critical role for the Company that we will look to bring on board in the coming year. In the interim, I will continue to oversee these important responsibilities. Following the recruitment of a President, my responsibilities as Chairperson and CEO will focus more exclusively on external-facing initiatives that are critical to securing the required regulatory approvals and financing for the Clearwater Project and building the business around the technology and value-additive transactions. As E3 Lithium continues to progress the development of the Clearwater Project, raising the required development and construction capital for a project of this scale is a critical role. To lead this effort, E3 Lithium is excited to welcome Brian Newmarch as its new chief financial officer. Brian is a seasoned industry professional with a successful background in raising and managing large capital projects in Alberta and globally. With over 20 years of experience in finance, energy, and midstream infrastructure, Brian has held senior leadership roles across the North American energy sector. He has served as the Chief Financial Officer at both Tidewater Midstream and Infrastructure and, most recently, Denver-based Humble Midstream LLC, following executive positions at Seven Generations Energy and ARC Resources. Throughout his career, Brian has led strategic debt and equity financings to support major infrastructure developments and operational growth across Western Canada. He also brings experience in go-public transactions, corporate mergers, and large-scale asset acquisitions and divestitures. Earlier in his career, Brian worked in commodity sales and trading at global financial institutions, including Credit Suisse and Citi, where he specialized in structured risk management and financing solutions. Brian holds the Chartered Financial Analyst designation and a Bachelor of Commerce degree from the Haskayne School of Business at the University of Calgary. The Company has granted Newmarch 300,000 incentive stock options (the 'Options'), vesting 25% per year over four years at an exercise price based on the closing price on July 2, 2025, under its omnibus equity incentive plan (the 'Plan'). In addition, Newmarch was issued 40,000 Performance Share Units ('PSUs'), issued in line with the Company's performance goals outlined on March 7, 2025, and 20,000 Restricted Share Units ('RSUs') vesting 50% per year over the next two years. The grant of the Options and issuance of PSUs and RSUs are subject to the approval of the TSX Venture Exchange. The Board and Management would like to thank Raymond Chow for his four years of service at E3 Lithium. Raymond was instrumental to the Company's success during his tenure. His dedication to the Company through our growth stage has been significant, and his contributions have added value across the organization. We wish him all the best in his future endeavours. The Company has also initiated the recruiting process for a Vice President of Facility Design, considering both internal and external candidates. The key responsibilities will include leading the design team through the successful development, deployment, and construction of the first commercial facility and beyond. E3 Lithium is at an exciting stage as the Company matures and moves closer to commercial operations. We are well prepared to execute on our vision of building a lithium industry in Alberta, supporting Canada's initiatives to be a leader in critical minerals, and ensuring the Company's ongoing success. This success is, at its core, the success of the team and the work they will accomplish over the coming years. We are very proud of the work we have completed to date and are confident in building a business poised for the future and ready to execute. I would like to thank our shareholders and stakeholders for their ongoing support of this vision. ON BEHALF OF THE BOARD OF DIRECTORS Chris Doornbos, Chairperson & CEO E3 Lithium Ltd. About E3 Lithium Ltd. E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.3 Mt LCE Inferred mineral resources 2 in Alberta and 2.5 Mt LCE Inferred mineral resources 3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR 1. Forward-Looking and Cautionary Statements This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
