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.

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.

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.


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
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, discussed how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technologi...
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, will discuss the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docke...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...