A New Leader for Home Hardware
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Hardware’s Board of Directors announced that Terry Davis, Executive
Vice-President and Chief Operating Officer of Home Hardware Stores Limited,
will become the new Chief Executive Officer, effective May 1, 2014.
Davis
succeeds current President and Chief Executive Officer, Paul Straus, who remains the company’s President, a member of the Board of
Directors, and an important advisor to both the Board and Senior Management
Team.
"Today’s 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. "Our succession
planning was thorough and thoughtful and the Board has determined that Terry is
the right choice to lead our company. We thank Paul for his commitment and
contributions over the past 50 years. Our company is stronger as a result of
Paul’s leadership and devotion to our company’s mission and core values."
In his new role, Davis will 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 assumes responsibility for the sound financial
control and long-term health of the company.
"I
am honoured by and proud of the confidence demonstrated in me by the Board,"
said Davis. "I am committed to building on Home’s success over its 50 year
history and remain focused on supporting the success of our Dealer-Owner
network, which has grown from 122 stores when the company was formed in
1964 to nearly 1,100 today."
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