Changes at the top at Canadian Tire
Canadian Tire Corp. (CTR) has announced the appointment of Marco Marrone as its new chief operating officer of the company’s core retail business. Marrone will have oversight of all of CTR’s operations, including merchandising, marketing, supply chain, and store operations, including dealer relations.
Following several years as president and the head of operations at Canadian Tire Financial Services, Marrone joined CTC in 2009 as executive VP and CFO. He is credited with major projects such as adopting International Financial Reporting Standards at CTC and the company’s recently launched loyalty trial and digital strategy.
Mike Arnett has been appointed executive VP, corporate development, after serving as president of Canadian Tire Retail. Arnett will develop new platforms for growth and assist with the oversight of global sourcing activities for the enterprise, as well as assist with the execution of Marrone’s strategic plan. His experience at CTR includes the successful acquisition of the former Forzani Group in 2011.
Dean McCann has been appointed as the company’s CFO and executive VP, finance, replacing Marco Marrone. McCann will be responsible for the financial and investor relations functions of the corporation and will guide the company’s efforts to achieve its stated financial aspirations of top line growth, total return to shareholders, return on invested capital, and return on receivables.
In his most recent role as president of Canadian Tire Financial Services and Canadian Tire Bank, McCann led strong, profitable growth in the business unit through a period of significant global economic uncertainty. McCann held successive financial roles with the company, including corporate comptroller for CTC and chief financial officer of CTFS and Canadian Tire Bank.
Mary Turner takes on the roles of chief operating officer of Canadian Tire Financial Services and president of Canadian Tire Bank, replacing Dean McCann. Turner will pursue growth opportunities and closely managing operational costs and credit risk.
Financial services is playing an increasingly important role in providing services to CTC business units, including in-store financing programs and the recent launch of a "home services" business.
A 20-year veteran of Canadian Tire and former chief operating officer of Canadian Tire Bank, Turner has held positions of increasing responsibility in finance, customer service, credit risk management, and call center operations.
Harry Taylor has been appointed chief operating officer at Mark’s, replacing Paul Wilson, who has decided to leave the company. Mark’s is a Canadian Tire retail chain that sells men’s, women’s, and work apparel.
Taylor joined Canadian Tire in 2010 to lead the Performance Management group for the family of CTC companies. Taylor previous experience includes working for Home Depot Canada, where he served as senior VP operations. He also served as VP customer strategy for PepsiCo Inc. as well as in senior positions with Frito Lay and McKinsey & Co.
"Canadian Tire posted excellent results in 2011 and we have entered 2012 on a very strong footing,” said Stephen Wetmore, president and CEO, Canadian Tire Corporation (CTC). “I believe we have the right strategy and we are making the right investments, our priority must now be exceptional execution in concert with our Canadian Tire Dealers," said "It’s all about people. This announcement continues our plan to select our best leadership talent, and ask them to take on new challenges in order to keep us on offense in this competitive retail environment."
In Kennewick, Wash., Ace Hardware opens its doors
A grand opening is planned sometime in March for Kennewick Ace Hardware and Sporting Goods store, according to an article in the Tri-City Herald.
Owner Charles Grigg also owns three other Ace stores. He told the newspaper: "Our business is convenience hardware. We have people to help you find what you need quickly, get you to the checkstand and maybe save you enough time that you can visit the other part of the store, tot sporting goods, and find what you need to go fishing."
True Value’s marketing chief embraces simplicity
In his first market presentation to True Value retailers, the co-op’s new VP marketing and chief customer officer Blake Fohl laid out a plan for — what else? — improved marketing.
He also promised improvements to True Value Rewards (TVR).
One key to the co-op’s marketing campaign is going to be building brand awareness, one store at a time, he said during the True Value market event in Orlando, Fla., this week. To help spread the word on national television, the co-op intends to use its own retail members to tell their story in front of their own stores. In fact, one of the events on the market floor was an open casting area where retailers auditioned for the commercials.
Print advertising will also be more targeted and more local. The co-op eliminated its national print program, but it doubled the amount of co-op dollars that members have to spend on advertising. Fohl added: "So, I implore each one of you to build and create compelling offers for your stores and then use the co-op dollars available to you to advertise them."
Fohl, who replaced Carol Wentworth in December, said systems have to be simple to implement, monitor, measure and adjust, while at the same time offering retail members the flexibility they need.
"We understand the limited amount of time you have every day to dedicate to marketing, and it’s not a lot," Fohl said. "So, we understand that we have to build programs that are simple to implement."
Describing TVR — True Value Rewards loyalty and marketing program — as a disappointment, he told retail members the co-op has identified the issues with the data, which are expected to be "cleaned" by the end of the first quarter, and he promised changes.
"By the end of the second quarter, we will begin providing additional reporting, which will allow you to analyze each campaign on a net profit basis, which will allow you to better manage your program," he said.
On a positive note, Fohl said retailers staying with the TVR program in 2012 will see the cost reduced from $1,800 to $900.