Michael Medline will serve as the president and CEO of Canadian Tire Corp. effective Dec. 1, 2014. Stephen Wetmore, the company’s current CEO, will remain on the board in as deputy chairman.
In early 2013, Wetmore advised the company’s board that he believed the time was right to begin to plan the transfer of the president and CEO roles to a successor. In November 2013, the board of directors selected Medline to be the company’s president.
“Michael’s first-hand knowledge gained while running many of our business divisions and the role he has played for years in developing our strategy and leading our acquisitions uniquely position him now to assume the CEO role,” said Maureen Sabia, Chairman of the Board of Directors. “We will have as our CEO one of the industry’s most innovative leaders.”
Medline has served as a senior executive of Canadian Tire for more than 13 years. Most recently, in his role as president, Medline has led all of the company’s business units, Canadian Tire said.
Wetmore served as CEO of Canadian Tire Corp. since 2008.