Home Hardware’s board of directors has announced that Fergus resident Terry Davis, executive vice-president and chief operating officer of Home Hardware Stores Limited, will become the new chief executive officer, effective May 1.
Davis succeeds current president and chief executive officer Paul Straus, who remains the company’s president, a member of the board of directors, and an important advisor to both the board and senior management team.
“Today’s announcement is a result of a planned and considered process carried out by our board of directors,” said Christine Hand, chairman of the board for Home Hardware Stores Limited.
“Our succession planning was thorough and thoughtful and the board has determined that Terry is the right choice to lead our company.We thank Paul for his commitment and contributions over the past 50 years.
“Our company is stronger as a result of Paul’s leadership and devotion to our company’s mission and core values.”
In his new role, Davis will report to the board of directors and be accountable for the control of the business and of the general conduct and affairs of Home Hardware and its wholly-owned subsidiaries. He assumes responsibility for the sound financial control and long-term health of the company.
“I am honoured by and proud of the confidence demonstrated in me by the board,” said Davis.
“I am committed to building on Home’s success over its 50-year history and remain focused on supporting the success of our dealer-owner network, which has grown from 122 stores when the company was formed in 1964 to nearly 1,100 today.”
Straus said, “Terry has proven himself to be a great leader and an innovative executive that embodies the qualities that have made Home Hardware a trusted source for advice and products for millions of Canadians across this country.
“I am thrilled that my new role as president permits me the continued opportunity to work with Terry, and I am confident that Home Hardware’s future remains bright under Terry’s leadership.”
Davis joined Home Hardware more than four decades ago in a junior warehouse position in the Distribution Centre in St. Jacobs.
