|By PR Newswire||
|August 7, 2014 07:47 AM EDT||
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.
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
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
Aug. 31, 2015 09:30 AM EDT Reads: 121
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
Aug. 31, 2015 08:30 AM EDT Reads: 198
U.S. companies are desperately trying to recruit and hire skilled software engineers and developers, but there is simply not enough quality talent to go around. Tiempo Development is a nearshore software development company. Our headquarters are in AZ, but we are a pioneer and leader in outsourcing to Mexico, based on our three software development centers there. We have a proven process and we are experts at providing our customers with powerful solutions. We transform ideas into reality.
Aug. 31, 2015 07:45 AM EDT Reads: 532
Skeuomorphism usually means retaining existing design cues in something new that doesn’t actually need them. However, the concept of skeuomorphism can be thought of as relating more broadly to applying existing patterns to new technologies that, in fact, cry out for new approaches. In his session at DevOps Summit, Gordon Haff, Senior Cloud Strategy Marketing and Evangelism Manager at Red Hat, discussed why containers should be paired with new architectural practices such as microservices rathe...
Aug. 31, 2015 06:00 AM EDT Reads: 393
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
Aug. 31, 2015 04:00 AM EDT Reads: 224
SYS-CON Events announced today that IceWarp 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. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Aug. 31, 2015 04:00 AM EDT Reads: 403
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
Aug. 31, 2015 03:00 AM EDT Reads: 482
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Aug. 31, 2015 02:00 AM EDT Reads: 450
SYS-CON Events announced today that DataClear Inc. 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 DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Aug. 30, 2015 11:45 PM EDT Reads: 396
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Aug. 30, 2015 10:00 PM EDT Reads: 348
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Aug. 30, 2015 06:45 PM EDT Reads: 370
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
Aug. 30, 2015 05:00 PM EDT Reads: 134
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
Aug. 30, 2015 05:00 PM EDT Reads: 466
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
Aug. 30, 2015 04:00 PM EDT Reads: 156
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, 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. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
Aug. 30, 2015 01:30 PM EDT Reads: 223