Terry Davis to Become President and Chief Executive Officer of Home Hardware Stores Limited
Home Hardware’s Board of Directors
announced that Terry Davis, Chief Executive Officer, Home Hardware Stores
Limited, was appointed President and Chief Executive Officer effective April
16, 2018. Davis succeeds retiring President Paul Straus who will remain a
consultant to the company.
In
his role as President and Chief Executive Officer, Davis will continue to
report to the Board of Directors and be accountable for the control of the
business and of the general conduct and affairs of Home Hardware Stores Limited
and its wholly-owned subsidiaries. He remains responsible for the sound
financial control and long-term health of the company. "This
announcement is a result of a planned and considered process carried out by our
Board of Directors," said Christine Hand, Chairman of the Board for Home
Hardware Stores Limited.
"I am honoured by the confidence demonstrated
in me by the Board and proud to carry on the leadership of President that was carried
by Paul Straus," said Davis. "Paul was a visionary who helped build over 50
years of Home Hardware’s history, growing the Dealer-owned network from 122 stores when the company
was formed in 1964 to nearly 1,100 today."
Davis joined
Home Hardware more than four decades ago in a junior warehouse position in the
Distribution Centre in St. Jacobs, Ontario. In
the interim years, he has held increasingly responsible managerial and
executive positions accountable for Dealer Support and Dealer Development,
Marketing, Information Technology, Dealer Finance and Legal Services,
Administration and Strategic Planning. In 2010 he was appointed Executive
Vice-President and Chief Operating Officer and became Chief Executive Officer
in 2014.
Home Hardware Stores Limited was honoured at the Canada’s Best Managed Companies gala as one of Canada’s Best Managed Companies for the sixth consecutive year.
Home Hardware continues to demonstrate the importance of private companies to the Canadian economy and was recognized for overall business performance and sustained growth with the prestigious Canada’s Best Managed Companies designation.
Now in its 25th year, Canada’s Best Managed Companies is one of the country’s leading business awards programs recognizing Canadian-owned and managed companies for innovative, world-class business practices. Every year, hundreds of entrepreneurial companies compete for this designation in a rigorous and independent process that evaluates the caliber of their management abilities and practices.
"Best Managed winners should be extremely proud of their accomplishments," said Peter Brown, Partner, Deloitte and Co-Leader, Canada’s Best Managed Companies program. "The marketplace is changing rapidly and this incredible class of companies’ commitment and entrepreneurial leadership help drive business success that is critical for the health of our economy."
Applicants are evaluated by an independent judging panel comprised of representatives from program sponsors in addition to special guest judges. 2018 Best Managed companies share commonalities that include a clear strategy and vision, investment in capability and commitment to talent.
"At Home Hardware, we recognize that thoughtful strategy, innovation and a positive corporate culture are important components to a successfully managed company," says Terry Davis, CEO, Home Hardware Stores Limited. "We are honoured to be recognized as one of Canada’s Best Managed Companies and are committed to reaching new heights as a company as we support our Canadian Dealers."
About Canada’s Best Managed Companies
Canada's Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed companies with revenues over $15 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada’s Best Managed Companies new winner (one of the new winners selected each year); 2) Canada’s Best Managed Companies winner (award recipients that have re- applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review); 3) Gold Standard winner (after three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years); 4) Platinum Club member (winners that have maintained their Best Managed status for seven years or more). Program sponsors are Deloitte, CIBC, Canadian Business, Smith School of Business, TMX Group and MacKay CEO Forums. For further information, visit www.bestmanagedcompanies.ca.
About Home Hardware Stores Limited
Home Hardware Stores Limited is Canada's largest Dealer-owned hardware, lumber, building materials, and furniture home improvement retailer with close to 1,100 stores under the Home Hardware, Home Building Centre, Home Hardware Building Centre and Home Furniture banners with annual retail sales of over $6 billion. Founded in 1964 in rural St. Jacobs, Ontario, Home Hardware remains 100% Canadian owned and operated. Through the Home Hardware network, Dealer-Owners have access to 100,000 quality, brand name and private label products, a state-of-the-art distribution system and extensive marketing and training programs. Offering a mix of tradition and innovation, Home Hardware Stores Limited has received designation as one of Canada's Best Brands and Best Managed Companies and is committed to helping Canadians with all of their project needs. More information about the company is available at homehardware.ca.
For more information, please contact
Jessica Kuepfer, Public Relations Manager, Home Hardware Stores Limited,
Carly Verhoeven, Public Relations Coordinator, Home Hardware Stores Limited,
