MONTREAL, Nov. 4, 2020 /CNW Telbec/ - Dollarama Inc.
(TSX: DOL) ("Dollarama" or the "Corporation") is pleased to
announce the appointment of Jean-Philippe (J.P.) Towner as chief
financial officer, effective March 1, 2021. Mr. Towner will
succeed Michael Ross, who will step
down as chief financial officer after over a decade with Dollarama
in this role. Mr. Ross will stay on in an advisory capacity until
his retirement to ensure a seamless transition.
"Michael joined our team shortly after the IPO and was
instrumental in helping build a robust organization to support our
aggressive growth all while preserving our trademark agility and
entrepreneurial culture. He also led our award-winning investor
relations outreach in Canada,
the United States and Europe. On behalf of the Board and executive
team, I sincerely thank Michael for his contributions to the
success of Dollarama over the last decade and for his gracious
commitment to coordinate a seamless transition for J.P throughout
his onboarding," said President and Chief Executive
Officer Neil Rossy. "My team and I extend a warm welcome to
J.P. and look forward to his leadership and insights. J.P. brings
impressive credentials, valuable experience and a fresh perspective
that I have no doubt will benefit all of our stakeholders."
"I am proud of what we have accomplished as a team during my
tenure with Dollarama, and it has been a great privilege to be part
of a tremendous Canadian success story," said Mr. Ross. "I have
full confidence in J.P.'s abilities to serve the Corporation as it
continues to pursue its organic growth in Canada and Latin
America, in collaboration with the strong team in
place."
Mr. Towner is a seasoned finance executive with experience in
corporate and financial strategy, capital markets, risk management
as well as logistics and procurement. He will join Dollarama after
serving since 2016 as Executive Vice President and Chief Financial
Officer of Pomerleau Inc., a multi-billion-dollar construction and
engineering company based in Montreal. Prior to joining Pomerleau, Mr.
Towner spent nearly 10 years with BMO Capital Markets, with roles
in Montreal and Toronto, including as Vice President –
Strategy & Financial Management and as Vice President – Global
Investment Banking, advising retail and telecom clients on a broad
range of strategic and financial decisions. Mr. Towner has an
extensive background in driving profitable growth and maximizing
organizational data capabilities. In addition, he has participated
in multiple high-profile strategic transactions while managing
global partnerships with co-investors, lenders and insurance
companies. At Pomerleau, he created and led Pomerleau Capital, the
company's investment division.
Mr. Towner is a graduate of Harvard
Business School's General Management Program and obtained
his Bachelor of Commerce with a Major in Accounting from
Laval University. He is a member of the
board of the Montreal Heart Institute Foundation. In 2018, he was
awarded the Ace of Finance Award in the 'Emerging Financial Leader'
category by Finance Executives International Canada.
Forward-Looking Statements
Certain statements in this press release about our current and
future plans, expectations and intentions, results, levels of
activity, performance, goals or achievements or any other future
events or developments constitute forward-looking statements. The
words "may", "will", "would", "should", "could", "expects",
"plans", "intends", "trends", "indications", "anticipates",
"believes", "estimates", "predicts", "likely" or "potential" or the
negative or other variations of these words or other comparable
words or phrases, are intended to identify forward-looking
statements.
Forward-looking statements are based on information currently
available to management and on estimates and assumptions made by
management regarding, among other things, general economic
conditions and the competitive environment within the retail
industry in Canada and in
Latin America, in light of its
experience and perception of historical trends, current conditions
and expected future developments, as well as other factors that are
believed to be appropriate and reasonable in the circumstances.
However, there can be no assurance that such estimates and
assumptions will prove to be correct. Many factors could cause
actual results, level of activity, performance or achievements or
future events or developments to differ materially from those
expressed or implied by the forward-looking statements, including
the factors which are discussed in greater detail in the "Risks and
Uncertainties" section of the Corporation's annual management's
discussion and analysis for Fiscal 2020 and management's discussion
and analysis for the second quarter of Fiscal 2021, available on
SEDAR at www.sedar.com.
These factors are not intended to represent a complete list of
the factors that could affect the Corporation or Dollarcity;
however, they should be considered carefully. The purpose of the
forward-looking statements is to provide the reader with a
description of management's expectations regarding the
Corporation's and Dollarcity's prospects and may not be appropriate
for other purposes. Readers should not place undue reliance on
forward-looking statements made herein. Furthermore, unless
otherwise stated, the forward-looking statements contained in this
press release are made as at November 4,
2020 and management has no intention and undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law. The forward-looking statements contained
in this press release are expressly qualified by this cautionary
statement.
About Dollarama
Dollarama is a recognized Canadian value retailer offering a
broad assortment of consumable products, general merchandise and
seasonal items both in-store and online. Our 1,314 locations across
Canada provide customers with
compelling value in convenient locations, including metropolitan
areas, mid-sized cities and small towns. Select products are also
available, by the full case only, through our online store at
www.dollarama.com. Our quality merchandise is sold at select, fixed
price points up to $4.00.
Dollarama also owns a 50.1% interest in Dollarcity, a growing
Latin American value retailer. Dollarcity offers a broad assortment
of consumable products, general merchandise and seasonal items at
select, fixed price points up to US$3.00 (or the equivalent in local currency)
through its 232 conveniently-located stores in Colombia, El
Salvador and Guatemala.
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SOURCE Dollarama Inc.