Canadian Tire Corporation announces CFO transition
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) 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) (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 RELATIONS
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/20/c3271.html