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Goodfellow Announces the Retirement of M. Richard Goodfellow on November 30, 2014

DELSON, QUEBEC -- (Marketwired) -- 06/13/14 -- Goodfellow Inc. (TSX:GDL) announced today that Richard Goodfellow, President and Chief Executive Officer of Goodfellow Inc., has decided to retire on November 30, 2014.

The Board of Directors of Goodfellow Inc. wish to thank Richard for his invaluable contribution to the development of the company over the last 40 years. Under his leadership as President and Chief Executive Officer since 1989, Goodfellow Inc has developed a presence across North America and in many foreign markets. Annual sales have increased from $187 million in 1989 to almost $500 million since his nomination.

The Board of Directors have retained the services of J.Robert Swidler and Associates to advise in the choice of a new Company leader. This firm will evaluate both internal and external candidates.

The Board of Directors of Goodfellow expects to make an announcement by November 30, 2014.

Goodfellow Inc. is one of eastern Canada's largest independent re-manufacturers and distributors of lumber and hardwood flooring products. Goodfellow shares trade on the Toronto Stock Exchange under the symbol GDL.

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