Valves manufacturer Velan appoints Réjean Ostiguy to CFO position

Velan Inc. of Montreal, a manufacturer of industrial valves, has appointed Rejean Ostiguy as its new chief financial officer. He will be a key member of the company’s senior management team and is succeeding John Ball, who has been effectively carrying out his mandate as CFO since June 1, 2005.

Ostiguy will report directly to Yves Leduc, CEO, and the chair of the audit committee of Velan.

As a CPA, Ostiguy pursued a career in the finance departments of various industries, including Bombardier Recreational Products and more recently at Knowlton Development Corporation. He has held successive senior leadership roles with increasing responsibilities, where he has gained a deep knowledge and experience in finance and accounting, as well as corporate re-structuring and acquisitions. Since his joining the company in August 2019, Ostiguy worked closely with John Ball to transition in his new role. Ball will continue to support the company as executive vice president, Global Finance, also reporting directly to Leduc. Among other responsibilities, he will be focusing his work on the company`s overseas subsidiaries.

Leduc said, “On my behalf, on behalf of the Velan family and all the employees, I thank John Ball for his leadership as chief financial officer. During his fifteen years at Velan, he has been a valued advisor and great collaborator, and played a key role in having our V20 transformation plan approved and set in motion.

“We are lucky to continue having him with us to benefit from his leadership, experience, and knowledge as Réjean Ostiguy steps in as CFO, succeeding to John. Rejean joined our team last summer, with an impressive track record, deeply relevant to both our business and strategic orientation. In the last months, he demonstrated that his solid reputation as a financial expert in manufacturing industries, a strong leader, and excellent team player, had been well deserved. I look forward to seeing him lead our finance department, immediately contributing to the success of our company.”

Said Ostiguy, “I am very proud to join the management team at Velan Inc. and thank John Ball for his impeccable transition. I am looking forward to help drive its future success.”