It's the end of an era at the largest dairy processor in the country.
Lino Saputo has stepped down as chairman of the board at the company he founded 63 years ago shortly after arriving in Canada from Italy.
Saputo is 80 years old.
He has an estimated net worth of $5.2 billion and is the sixth richest man in the country.
His son Lino Jr. the current president and CEO will take over from his father.