PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Canadian Tire, one of Canada’s largest multi-channel retailers of general merchandise, has named Stephen G. Wetmore to succeed Tom Gauld next month as president and CEO.
Canadian Tire Corp., one of Canada’s largest multi-channel retailers of general merchandise, has named Stephen G. Wetmore to succeed Tom Gauld next month as president and CEO. Gauld is retiring but will remain on the company’s board of directors.
Wetmore, who has served on Canadian Tire’s board since 2003, joins the retail company from Bell Aliant Regional Communications Income Fund, where he was president and CEO. Bell Aliant is a provider of telecommunications products and services throughout Canada and parts of the U.S.
“Stephen has a deep knowledge of Canadian Tire through his service on our board and its committees,” says Maureen Sabia, chairman of Canadian Tire. “With an enviable record of leading public companies, he has successfully created new and market-changing organizations, built brands, managed complex relationships and distribution channels and, perhaps most important of all, has shown a proven commitment to customer service and to productivity. In his new role, Stephen will continue the execution of our current strategy and enhance the company`s relationships with its customers, shareholders, dealers and employees across Canada.”
Wetmore has also led other large organizations in the information technology and transportation industries as well as telecommunications. He has worked as president and CEO of NewTel Enteprises, the telecommunications company serving Newfoundland and Labrador, where he led a four-way merger to form Aliant Inc. He went on to serve as Aliant’s first president and CEO.
Wetmore has also served as corporate vice chairman and group president of national markets for Bell Canada and as executive vice president of BCE Inc. Wetmore’s other roles have included president and CEO of regional airline Air Atlantic, managing director of health care company Scotia Holdings PLC, and a chartered accountant at accounting and auditing firm PricewaterhouseCoopers.
Canadian Tire operates more than 1,180 general merchandise, apparel and gasoline and convenience stores. The mix includes 473 Canadian Tire general merchandise stores and the retail web site CanadianTire.ca, and 364 Mark’s Work Wearhouse stores and the retail web site Marks.com.