Canadian Tire Shakes Things Up, Warns Employees

Top management of Canadian Tire is not at all happy, so its president and CEO has turned the company on its ear and has warned employees to shape up, says Tire Review. Stephen Wetmore, head of the massive retailer for less than 24 months, has reshuffled the top exec deck and realigned the company’s divisions under one umbrella in a move to improve the bottom line, enhance customer service and cut duplication and costs.

With the surprise August departure of Michael Medline, who had headed up Canadian Tire’s automotive business for less than a year, Wetmore appointed long-time Canadian Tire executive Glenn Butt to the expanded position as executive vice president of customer experience, automotive, store operations and dealer relations.

Mike Arnett, president of Canadian Tire Retail, is now also executive vice president of marketing, customer loyalty and brand image. Huw Thomas, CFO, and treasurer Stan Pasternak announced their retirements.

Wetmore also said the retailer is cutting headcount by 1 per cent as part of a move to consolidate human resources, information technology and accounting activities.

“Today’s announcement recognizes that we have to improve our performance,” Wetmore said. Remaining employees and dealers were put on notice by Wetmore that the need to “shape up.” Performance-based pay will be expanded to more senior employees, and dealers will receive more training.