Gregory Craig
to retire after a 31-year career at CTC
Darren Myers to
join effective April 1st
TORONTO, Jan. 20,
2025 /CNW/ - Canadian Tire Corporation ("the
Company"; "CTC") (TSX: CTC) (TSX: CTC.A) today announced that
Darren Myers will join the Company
as Executive Vice President and Chief Financial Officer (EVP and
CFO), effective April 1st, on the
retirement of Gregory Craig.
The Company's CFO search followed Mr. Craig's decision to retire
after a 31-year career at CTC in which he made notable
contributions, both through his career at Canadian Tire Financial
Services and in his five years as EVP and CFO of Canadian Tire
Corporation.
Darren Myers comes to the role
with over a decade of experience leading operational finance
functions and capital markets interactions. He served as CFO of
Celestica (TSX/NYSE:CLS) and subsequently took on the CFO roles at
retailer Loblaw Companies Limited (TSX: L) and Algonquin Power
& Utilities Corporation (TSX/ NYSE:AQN), both members of the
S&P/TSX-60 Composite Index.
"As we look beyond our Better Connected strategy at our next
horizon, Darren will bring a combination of operational,
transformational, and sector expertise to complement our strong
leadership team," said Greg Hicks,
President and CEO, Canadian Tire Corporation. "He has a track
record of managing near-term performance and long-term planning,
and he understands the complexities of retail."
"Canadian Tire is an iconic Canadian company, which has been a
leader in a dynamic retail sector for more than 100 years," said
Myers. "I'm excited to bring my enthusiasm and experience to the
strategic challenge of extending that track record, and to join a
team that has made values and trust a strength."
To provide a seamless transition, Mr. Craig will manage the
Company's pending Q4 2024 reporting and remain an executive advisor
until June 30, 2025.
"Gregory has shepherded our financial performance through an
incredibly challenging period, while instilling the operational
discipline to invest in priorities that set the stage for our next
chapters," said Hicks. "Over five years, he has been an invaluable
partner to me and his executive peers. He has our thanks and best
wishes."
Canadian Tire Corporation will report Q4 2024 earnings as
scheduled on Thursday, February 13,
2025.
ABOUT CANADIAN TIRE CORPORATION
Canadian Tire Corporation, Limited, (TSX: CTC.A) (TSX: CTC) (or
"CTC"), is a group of companies 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 &
Gardening divisions. Party City, 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; Pro Hockey
Life, a hockey specialty store catering to elite players; and
SportChek, Hockey Experts, Sports Experts and Atmosphere, which
offer the best active wear brands. The Company's close to 1,700
retail and gasoline outlets are supported and strengthened by CTC's
Financial Services division and the tens of thousands of people
employed across Canada and around
the world by CTC and its local dealers, franchisees and petroleum
retailers. In addition, CTC owns and operates Helly Hansen, a
leading technical outdoor brand based in Oslo, Norway. For more information, visit
Corp.CanadianTire.ca.
FOR MORE INFORMATION
Media: Stephanie Nadalin, (647)
271-7343, stephanie.nadalin@cantire.com
Investors: Karen Keyes, (647)
518-4461, karen.keyes@cantire.com
SOURCE CANADIAN TIRE CORPORATION, LIMITED - INVESTOR
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