Paul Larmer to retire as CEO; Matt McCready named as successor

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Semex, an industry leader in global genetic solutions, announced today that Paul Larmer will step down from his position as Chief Executive Officer as part of Semex's succession plan, effective December 31, 2023, continuing in an advisory role through May 31, 2024. Semex's Board of Directors has appointed Matt McCready, current Chief Commercial Officer, to succeed Larmer as Chief Executive Officer, effective January 1, 2024.

"As difficult as it is to say goodbye to a career that I have loved, to a company that we have grown into a global leader, and especially to my Semex family, I know this is the right decision at the right time," says Larmer. "I am excited about what is next, spending more time with my family, and what the future holds for Semex and its people. I know that the best days for Semex are ahead!"

"For nearly 40 years and in every role, Paul has been a passionate advocate for the global genetics industry," said Semex Board of Directors President Phil MacLean. "As Semex's CEO for the past 17 years, Paul demonstrated his powerful ability to bring people together, build consensus, and accelerate change, while never losing sight of our people and clients. Since becoming our CEO Paul has significantly grown our global footprint, driven record revenues year after year, and provided substantial returns to our partner owners. While leading this growth, Paul has set the stage and capacity for Semex’s next phase of growth and profitability. On behalf of the Board and our partner owners, we are grateful to Paul and his family."

MacLean continued, "Knowing Paul’s intentions, our Board of Directors has been engaged in ongoing succession planning and today's announcement enables a smooth transition of the CEO role. Matt is an exceptional leader, and the Board and I believe he is the right person to guide Semex through its next chapter. Since joining Semex, Matt's strategic focus, passion for agriculture, and commitment to our people and clients uniquely suited him for the role. We're confident Semex, its partners, staff, and our clients will continue to flourish and grow under Matt's leadership."

McCready joined Semex in September 2018 as an International Sales Manager, first leading Semex’s Asian business. He was promoted to Vice President of International Sales in 2020 and in 2022 became the Chief Commercial Officer, leading a new division merging all client-facing business sectors into one team. Before joining Semex, Matt was Director of Business Development, Hybrid Turkeys at Hendrix Genetics, leading their global marketing and working closely with global sales directors and regional managers. Previous to that, Matt held several positions at PepsiCo Canada.

A graduate of the University of Guelph with a bachelor of commerce and agriculture business, Matt hails from an agricultural background in Ontario.

McCready commented on his appointment, “I am honored to serve as Semex's next CEO. Steeped in history and having pioneered the bovine genetics industry, Semex continues to deliver the solutions the global industry needs for long-term sustainability and profitability. I look forward to working closely with Paul during this transition, as well as our Board of Directors and our global team on behalf of our clients and shareholders for years to come."