Pierre Boivin Named President & CEO of Claridge Inc.

Stephen Bronfman is proud to announce the appointment of Pierre Boivin as President and CEO of Claridge Inc., a privately-owned equity firm headquartered in Montreal, Quebec. Effective September 2011, Pierre Boivin will join forces with Stephen Bronfman and his team to further develop the firm's existing investment portfolio as well as play a lead role in its future acquisitions.

"I feel privileged to have someone like Pierre Boivin come on board with us," declared Stephen Bronfman, current President and CEO of Claridge Inc. "Pierre's proven success in the consumer goods and entertainment industries, among others, as well as his strong community involvement make him the perfect fit for us. We plan to take a leadership role and reach out to potential partners, whether institutions or high-net worth individuals, in order to make major worldwide investments, with a focus on Quebec and Canada. In other words, we want to position Claridge as a significant player in the mid-market private equity sector in North America."

"I was looking for a leadership role in the private equity sector, in Montreal," said Pierre Boivin, "and I must admit I could not think of a better opportunity. I have the utmost respect for Stephen Bronfman - the man, the businessman and the philanthropist alike. I'm honoured to join him and look forward to working closely with Stephen and the Claridge management team to continue to build the business."

Stephen Bronfman will remain Claridge's President and CEO in the interim, until Pierre Boivin's arrival, at which point he will assume the role as Chairman of the Board. Mr. Bronfman will continue to act as co-chair of the Board of the Claudine and Stephen Bronfman Family Foundation as well as maintain his numerous philanthropic engagements in the Montreal community and across Canada

on May 13, 2011