The Globe and Mail reports in its Friday, May 12, edition that chief executive officer Stephen Wetmore has set out to
make Canadian Tire
the "undisputed" top retail brand
in Canada within five years. The Globe's Marina Strauss writes that Mr. Wetmore concedes Canadian Tire has set a lofty goal
for itself since he was unexpectedly
reinstalled in the top job last
summer after retiring from it
about 18 months earlier.
While Canadian Tire has managed
to survive big U.S. retail invasions, it has
brought back Mr. Wetmore to
fight off emerging forces, counting
on his savvy as a "transformational"
leader at a time of
unprecedented retail change,
said chairman Maureen Sabia on Thursday.
Mr. Wetmore added: "We are in the midst of a 'retail
revolution' and companies are
having to react quickly. Digital devices are
the starting point for information,
entertainment, social
engagement and, of course, commerce.
Established retailers are
facing difficult investment decisions."
Canadian Tire is racing to bolster
its on-line shopping and other
digital and data analytics
initiatives, pushing it to operate
more nimbly to shore up its bottom
line and offset heavy investments.
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