TSX Stock Symbol TIH
TORONTO, Sept. 22,
2023 /CNW/ - Toromont Industries Ltd. announced today
that effective October 15, 2023,
Michael McMillan will be appointed
President and Chief Executive Officer and a member of the Board of
Directors. This follows the previously announced retirement of
Scott Medhurst as CEO, after a
successful 35-year career with Toromont. While Mr. Medhurst retires
as President and Chief Executive Officer, as well as a member of
the Board of Directors, he will stay on as an Executive advisor to
Mr. McMillan for a transition period.
Today, Toromont also announced the appointment of John Doolittle as Executive Vice President and
Chief Financial Officer. Mr. Doolittle is a highly accomplished
financial executive, bringing a wealth of financial, capital
markets and leadership experience. He has served as Chief Financial
Officer at a number of public and private companies including Open
Text and Mattamy Homes.
"Today's announcement follows a thorough succession planning and
search process" said Richard Roy,
Chair of the Board. "Through this exercise, we are confident that
Toromont is well positioned for the future under the leadership of
Mr. McMillan and the entire management team. We thank Mr. Medhurst
once again for his tremendous contributions to Toromont and we are
honoured to welcome Mr. Doolittle to the Toromont team."
About Toromont
Toromont Industries Ltd. operates through two business segments:
The Equipment Group and CIMCO. The Equipment Group includes one of
the larger Caterpillar dealerships by revenue and geographic
territory - spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New
Brunswick, Prince Edward
Island, Québec, Ontario and
Manitoba in addition to most of
the territory of Nunavut. In
addition, the Group includes industry leading rental operations,
and a complementary material handling business. CIMCO is a market
leader in the design, engineering, fabrication and installation of
industrial and recreational refrigeration systems. Both segments
offer comprehensive product support capabilities. This press
release and more information about Toromont Industries can be found
at www.toromont.com.
SOURCE Toromont Industries Ltd.