TORONTO, Dec. 2, 2019 /CNW/ - Roots ("Roots," "Roots
Canada") (TSX: ROOT), a premium outdoor lifestyle brand, today
announced that Mona Kennedy has been
named Chief Financial Officer, effective by the end of Q1 fiscal
2020. An accomplished retail industry finance executive, Ms.
Kennedy brings with her extensive experience in finance, planning
and analysis, capital markets, IT implementation, as well as
corporate strategy development and execution.
"Mona is a talented senior executive whose financial acumen and
retail industry experience will be an incredible asset to the
company," said Jim Gabel, President
and CEO, Roots. "In addition to her proven track record of driving
business strategy and leading finance teams, she is a longstanding
fan of the Roots brand. We are pleased to welcome her to the
team."
In her role, Ms. Kennedy will oversee Roots financial
operations, investor relations, real estate, loss prevention and
IT, reporting directly to President and CEO, Jim Gabel. Ms. Kennedy is assuming the Chief
Financial Officer role from Meghan
Roach, Managing Director at Searchlight Capital Partners,
who has been acting as Interim Chief Financial Officer since
August 9, 2019.
"I would like to thank Meghan for the many contributions she has
made in her time as interim CFO. She has been an asset to the team,
and played an integral role in leading the integration of our new
distribution centre," Mr. Gabel added.
Ms. Kennedy has two decades of finance and corporate strategy
experience. She joins Roots from Indigo
Books & Music Inc. where she was Vice President,
Finance. Prior to indigo, she was at Maple Leaf Food Inc., where
she spent more than a decade, and held increasingly senior roles in
areas including corporate strategy, strategy execution and
financial planning and analysis. Ms. Kennedy is a CPA, CMA, holds
an MBA from INSEAD and a Bachelor of Commerce from Queen's
University.
"I am thrilled to be joining Roots, an iconic Canadian brand
that resonates so well globally," said Mona
Kennedy. "I look forward to working with the incredibly
talented team to continue to drive the Company's success."
About Roots
Established in 1973, Roots is a premium
outdoor lifestyle brand. We unite the best of cabin and city
through unmistakable style built with uncompromising comfort and
quality. We offer a broad range of products that embody a
comfortable cabin-meets-city style including: women's and men's
apparel, leather goods, footwear, accessories, and kids, toddler
and baby apparel. Starting from a little cabin in Algonquin Park, Canada, Roots has grown to
become a global brand. As at August 3,
2019, we had 116 corporate-retail stores in Canada, eight corporate-retail stores in
the United States, 115
partner-operated stores in Taiwan,
34 partner-operated stores in China, one partner-operated store in
Hong Kong and a global eCommerce
platform. Roots Corporation is a Canadian corporation doing
business as "Roots" and "Roots Canada".
Forward-Looking Information
Certain information in
this press release contains forward-looking information. This
information is based on management's reasonable assumptions and
beliefs in light of the information currently available to us and
are made as of the date of this press release. Actual results and
the timing of events may differ materially from those anticipated
in the forward-looking information as a result of various factors.
Information regarding our expectations of future results,
performance, achievements, prospects or opportunities or the
markets in which we operate is forward-looking information.
Statements containing forward-looking information are not facts but
instead represent management's expectations, estimates and
projections regarding future events or circumstances. Many factors
could cause our 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.
See "Forward-Looking Information" and "Risk Factors" in the
Company's current Annual Information Form for a discussion of the
uncertainties, risks and assumptions associated with these
statements. Readers are urged to consider the uncertainties, risks
and assumptions carefully in evaluating the forward-looking
information and are cautioned not to place undue reliance on such
information. We have no intention and undertake 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 applicable securities law.
SOURCE Roots Corporation