Click here to close now.




















Welcome!

News Feed Item

Michael Medline Appointed as President and Chief Executive Officer of Canadian Tire Corporation; Stephen Wetmore to Become Deputy Chairman

TORONTO, Aug. 7, 2014 /CNW/ - The Board of Directors of Canadian Tire Corporation today announced the appointment of Michael Medline as President and Chief Executive Officer of the Company effective December 1, 2014.  The Board is also very pleased to announce that Stephen Wetmore has agreed to remain on the Board of Directors in a new, non-executive position of Deputy Chairman.

Mr. Wetmore advised the Board of Directors in early 2013 that as he was approaching six years as CEO he had completed many of his original objectives and with the Company in a very strong position, he believed that the time was right to begin to plan the transfer of the President and CEO roles to a successor.

The Board of Directors reviewed a number of qualified external and internal candidates as part of a normal-course and rigorous succession planning exercise, resulting in the appointment of Michael Medline as President of the Company in November 2013.

"Michael's first-hand knowledge gained while running many of our business divisions and the role he has played for years in developing our strategy and leading our acquisitions uniquely position him now to assume the CEO role," said Maureen Sabia, Chairman of the Board of Directors.  "We will have as our CEO one of the industry's most innovative leaders."

Michael Medline has been a senior executive of Canadian Tire for more than 13 years and has led many of the Company's most strategic initiatives, including the acquisition of Mark's in 2002, the acquisition of the Forzani Group in 2011, the acquisition of Pro Hockey Life and the recently announced Scotiabank partnership in May of this year.  He has also directly led the operations of many of the Company's business units, including Petroleum, PartSource and Canadian Tire's Automotive division, FGL Sports and Mark's.  Most recently, in his role as President, Mr. Medline has led all of the Company's business units, including a focus on adapting their business models to be more relevant in a world of rapidly changing technology and customer expectations.

Stephen Wetmore joined Canadian Tire's Board of Directors in 2003 and was appointed Chief Executive Officer in 2008. He has led the evolution of the Canadian Tire brand and introduced a brand-led culture to the Company, while building a creative, innovative management team – all resulting in one of the Company's most exciting and fastest periods of growth in its history.

"Six years ago, the Board of Directors asked Stephen to lead us on a path of positioning Canadian Tire's iconic triangle as one of Canada's leading brands," continued Sabia. "We cannot thank Stephen enough for his enormous contributions to our success.  The Company is now in an enviable position, with an impressive leadership team fully prepared to meet the challenges presented by the future and to meet the increasing expectations of our loyal customers.  We are very fortunate indeed that Stephen has chosen to remain involved with the Company and we know that he will continue to make invaluable contributions in his new role as Deputy Chairman of the Board of Directors."

"I am very proud of the team that we have running the Company today.  For all of the strategic initiatives that will come and go, the glue that holds it all together is the talent, creativity and innovation of your executive team," said Mr. Wetmore.  "Michael is an exceptional leader of this team and was the obvious successor for the CEO role as we began this transition late last year.   I look forward to continuing to work with Michael in my new role on the Board and I know he will be exceptional in every regard as he takes on the leadership of the next chapter in the Company's evolution."

"It's a tremendous honour to be asked to lead a Canadian icon like Canadian Tire Corporation," said Mr. Medline.  "Stephen is leaving Canadian Tire in a position of strength and with opportunities to build an even stronger Company.  In a world increasingly driven by digital innovation and customer insights, we are extremely well positioned with the talent we have and the talent we are recruiting to meet the changing expectations of our customers.  With the strong foundation and great assets we have, I am definitely optimistic about the Company's prospects for growth going forward," concluded Mr. Medline.

CONFERENCE CALL
Canadian Tire will conduct a conference call to discuss information included in this news release and related matters at 12:00 p.m. ET on August 7, 2014. The conference call will be available simultaneously and in its entirety to all interested investors and the news media through a webcast at http://corp.canadiantire.ca/EN/investors, and will be available through replay at this website for 12 months.

ABOUT CANADIAN TIRE CORPORATION
Canadian Tire Corporation, Limited, (TSX:CTC.A) (TSX:CTC) or "CTC," is a family of businesses that includes a retail segment, a financial services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal categories. PartSource and Gas+ are key parts of the Canadian Tire network. The retail segment also includes Mark's, a leading source for casual and industrial wear, and FGL Sports (Sport Chek, Hockey Experts, Sports Experts, National Sports, Intersport, Pro Hockey Life and Atmosphere), which offers the best active wear brands. The nearly 1,700 retail and gasoline outlets are supported and strengthened by our Financial Services division and the tens of thousands of people employed across the Company. For more information, visit Corp.CanadianTire.ca.

SOURCE CANADIAN TIRE CORPORATION, LIMITED

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
SYS-CON Events announced today that the "Second Containers & Microservices Expo" will take place November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. CommVault can ensure protection and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his session at 17th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Com...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Scrum Alliance has announced the release of its 2015 State of Scrum Report. Almost 5,000 individuals and companies worldwide participated in this year's survey. Most organizations in the market today are still leading and managing under an Industrial Age model. Not only is the speed of change growing exponentially, Agile and Scrum frameworks are showing companies how to draw on the full talents and capabilities of those doing the work in order to continue innovating for success.
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at @DevOpsSummit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, presented a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mocku...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Graylog, Inc., has added the capability to collect, centralize and analyze application container logs from within Docker. The Graylog logging driver for Docker addresses the challenges of extracting intelligence from within Docker containers, where most workloads are dynamic and log data is not persisted or stored. Using Graylog, DevOps and IT Ops teams can pinpoint the root cause of problems to deliver new applications faster and minimize downtime.
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Learn how you can use the CoSN SEND II Decision Tree for Education Technology to make sure that your K–12 technology initiatives create a more engaging learning experience that empowers students, teachers, and administrators alike.
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.