TORONTO—Canadian Tire Corp. has appointed Wayne C. Sales as president and CEO of the company, succeeding the retiring Stephen Bachand.
"Our intense selection pro-cess has confirmed our view of Wayne's stature as one of the very best retail executives in the world, and he has the board's complete confidence as he leads Canadian Tire into the future," said Chairman Gilbert Bennett. "He has been a key architect behind the revitalization of the Canadian Tire store network and our growth strategies."
Mr. Sales, 50, has more than 30 years of international retail experience, including key leadership positions at Canadian Tire for the past decade. His most recent position was executive vice president of Canadian Tire Retail.
In his previous post, Mr. Sales was responsible for Canadian Tire's retail functions of buying, merchandising, petroleum, Far East buying offices, market research and advertising. His responsibilities also included PartSource, a specialty automotive retail chain that is a business unit of Canadian Tire.
Mr. Sales played a vital role in reshaping Canadian Tire's strategic growth agenda, lowering its cost structure and repositioning its stores—leading to revenue growth of more than $1.7 billion since he joined the firm, according to the company.
Mr. Sales said the firm "will continue our program of introducing our highly successful new-format stores, reducing costs and improving efficiencies, while delivering the service excellence our customers expect."