To succeed Larry Rossy who will remain active as Executive Chairman
MONTRÉAL, March 30, 2016 /PRNewswire/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corporation") announced today that the Board of Directors has appointed Neil Rossy as President and Chief Executive Officer, effective May 1, 2016. Company founder Larry Rossy will continue to play an active role in key areas of Dollarama's business as Executive Chairman.
"Succession planning has been an important focus for the Board over the past several years and we believe this is the right time for an orderly leadership transition," stated Stephen Gunn, Lead Director of Dollarama's Board of Directors. "Neil has shown strong leadership as one of the key architects of Dollarama's success. He is an experienced retail executive with an intimate knowledge of all company operations, and is respected by his colleagues. The Board has full confidence in Neil's ability to lead Dollarama's growth in the coming years with the support of the strong team in place."
Neil Rossy, 46, is currently Chief Merchandising Officer and a member of the Board of Directors since 2004. With the company since its inception in 1992, he has been involved in all aspects of Dollarama's business, supply chain and day-to-day operations. Over the last two decades, Neil Rossy has played an increasingly important role in strategic decisions related to warehousing and distribution, direct sourcing, product development and merchandising innovations that define Dollarama and underpin its success. He is a graduate of Queen's University.
"Neil is a proven leader who knows the business inside out, and has contributed tremendously to Dollarama's growth. I look forward to focusing on my real estate and buying responsibilities while providing my full support to Neil and the rest of our management team as Executive Chairman," said Larry Rossy, Chairman and CEO.
"I am excited to take the helm of a company that is part of my DNA and thank the Board for its confidence in me. For over 20 years, I have been fortunate to work directly and intimately with a great Canadian entrepreneur, an experience that has prepared me well for these new responsibilities," said Neil Rossy. "I will continue to work with our talented team, including Larry, to lead Dollarama's growth in the years to come."
Dollarama is Canada's leading dollar store operator with 1,030 locations across the country. Our stores provide customers with compelling value in convenient locations, including metropolitan areas, mid-sized cities and small towns. Dollarama aims to provide customers with a consistent shopping experience, offering a broad assortment of everyday consumer products, general merchandise and seasonal items. Our quality merchandise is sold in individual or multiple units at select fixed price points up to $3.00.
Certain statements in this press release about our current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward-looking statements. The words "may", "will", "would", "should", "could", "expects", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "predicts", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. Forward-looking statements are based on information currently available to us and on estimates and assumptions made by us regarding factors that we believe are appropriate and reasonable in the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, but not limited to, the factors discussed in the "Risks and Uncertainties" section of the Corporation's management's discussion and analysis (available on SEDAR at www.sedar.com).
Unless otherwise stated, the forward-looking statements contained in this press release are made as at March 30, 2016 and we have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
SOURCE Dollarama Inc.