Canadian Tire appoints new president, ceo
TORONTO Canadian Tire has announced the appointment of Stephen G. Wetmore as the company's next president and ceo, effective in 2009. He will succeed Tom Gauld, who is retiring from that role at the end of this year, and will continue as a member of the company's board.
Wetmore, 55, is an experienced ceo who has led businesses in industries including telecommunications, IT and transportation. He has been responsible for regional, national and international business operations and most recently served as president and ceo of Bell Aliant Regional Communications Income Fund, one of North America's largest regional telecommunications providers. He has served as an independent member of Canadian Tire's board since 2003.
"I am truly honoured to join this great Canadian icon," stated Wetmore. "I have admired Canadian Tire for many years. My role as a board member has only increased my appreciation of the strength and responsibility associated with one of Canada's most recognized and trusted brands. I look forward to working with the men and women of this great organization in achieving its continued success."
"This is about seizing opportunity when it comes knocking," said Tom Gauld, "and it's about getting the right person for the long term. Stephen announced late in the summer of 2008 that he would be leaving Bell Aliant. I had intended to continue in my present role a little longer, however, the opportunity to recruit someone of Stephen's stature to lead the company beyond that time frame led me and the board to revisit our succession timetable. I am delighted with the outcome."
"We're delighted to have secured someone of Stephen's stature and experience as our next president and ceo," stated chairman of the board Maureen Sabia. "This appointment reflects our board's ongoing focus on succession planning and we are extremely pleased with the result. Stephen has a deep knowledge of Canadian Tire through his service on our board and its committees ... [He] has shown a proven commitment to customer service and to productivity. In his new role, Stephen will continue the execution of our current strategy and enhance the company's relationships with its customers, shareholders, dealers and employees across Canada. Our shared goal is to enhance the power of our brand and to make Canadian Tire the best it can be in meeting the needs of our customers, every day."