Goodfood Market Corp. has appointed Najib Maalouf as its new chief executive officer after Selim A. Bassoul resigned as CEO and as a member of the company’s board of directors, effective Aug. 3.
The Montreal-based company said Maalouf, who has served as president and chief operating officer since March 2026, will take over the top role immediately. Goodfood said the appointment reflects the board’s confidence in the continuity of the company’s leadership, strategy and day-to-day operations as it continues to review strategic options. The leadership change comes as the company says it intends to maintain its current strategic priorities and ongoing operations. Goodfood said the board expects no changes to its strategy or day-to-day business as a result of the transition, including its ongoing strategic review process.
In April, Goodfood Market reported a $7 million net loss in its Q2 financial results.
Lead independent director Donald Olds said the board believes Maalouf is well positioned to lead the company.
“Mr. Maalouf’s deep knowledge of our operations, culture, strategic priorities, and proven results make him the right leader to guide Goodfood forward. His appointment ensures continuity in the execution of our strategy at an important time for the Company as we carefully weigh our strategic options.”
Maalouf said he intends to continue executing the company’s existing plans following his appointment.
“I’m honoured to lead Goodfood into its next chapter. Having worked closely with our teams over the past several months, I look forward to building on the progress we’ve made, continuing to execute our strategy and delivering for our customers while making the right decisions for all of our key stakeholders.”
The company said Maalouf has played a key role in improving operational efficiency and evolving its business model since joining as president and chief operating officer earlier this year. It also acknowledged Bassoul’s leadership during what it described as a period of significant change and thanked him for his contributions over the past year.
“On behalf of the Board, I would like to thank Selim for his commitment, leadership and tireless efforts over the past year. His work helped reshape the Company’s operating model, improve cash generation, and position Goodfood to pursue the next phase of its strategic process. We wish him every success in his future endeavours,” said Olds.
Bassoul reflected on his time leading the company and credited employees for their efforts during the transition.
“Serving Goodfood has been a privilege. I am proud of what our team accomplished together under challenging circumstances. Over the past several months, our employees demonstrated remarkable resilience and commitment as we streamlined operations, strengthened our financial discipline and built a leaner organization. These achievements belong to them.
“I remain deeply appreciative of our employees, customers, suppliers and shareholders for their support throughout this journey, and I wish Goodfood continued success as it moves forward.”
Goodfood said it remains committed to executing its strategy, supporting its employees and continuing to provide customers across Canada with its services as the leadership transition takes effect.
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