Canadian Tire promotes from within to appoint new President & CEO
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Canadian Tire, one of the country’s leading suppliers of fishing tackle, has promoted from within to replace its retiring President & CEO.
Greg Hicks, formerly President of Canadian Tire Retail, the group’s largest business representing over $9 billion in revenue, has replaced Stephen Wetmore, who has stepped down with immediate effect, after nine years in the role.
“The appointment of Greg follows a rigorous global search process that considered a number of high quality internal and external candidates,” said Maureen Sabia, Chairman of Canadian Tire Corporation. “In Greg, the company has selected a world-class leader with a strategic mind-set, a proven ability to build high-performing teams and deliver exceptional results. He brings with him a deep understanding of the CTC business model and strategic properties, a relentless focus on the customer and tremendous commercial acumen.
“He has been instrumental in the development and implementation of our very successful digital and e-commerce strategy and played a lead role in our company’s focus on customer data and analytics.”
Hicks said: “I want to thank the Board for demonstrating its confidence in me. I am very excited and proud to take on this critical role in a company that has meant so much to me and my family. Importantly, I want to thank Stephen Wetmore for his leadership, mentorship and vision. I am fortunate to be taking on my new role on the foundation of a proven business strategy, strong executive team and dedicated dealers and employees that will support our ambitious plans for future growth.”
Wetmore is stepping down as a member of the Board, having first being elected in 2003. He will act as an advisor to the company as Honourary Director until the end of the year to ensure a smooth transition.
“Stephen has been a key architect of the business strategy that drives our continued exceptional performance,” added Sabia. “He is a once-in-a-generation leader and I was privileged to work with him as a Board member and to support him throughout his two terms as CEO. On behalf of the Board and all our employees, I want to thank him for his enormous contribution to Canadian Tire and for his continued support of Greg during the transition process.”