MONTREAL, May 29, 2014 /PRNewswire/ - Pierre Michaud, chairman of the board of directors of DAVIDsTEA, is pleased to announce that Sylvain Toutant has been named the Company's president and chief executive officer. Mr. Toutant will be responsible for all operations at DAVIDsTEA and will oversee the Company's growth in Canada, the United States and around the world. He will also serve on the board of directors.
A recognized specialist in retailing, Mr. Toutant has developed businesses in Canada, the United States and Europe. After joining VanHoutte in 2008, he became president of retail and subsequently, chief operating officer. Since 2012 and until recently, he was president of Keurig Canada, where he accelerated growth through a strategic alliance with Keurig Green Mountain in the United States. He also headed Keurig's operations in the United Kingdom.
During the course of his career, Mr. Toutant has been at the helm of a number of well-known brands in renovation, and alcoholic and other beverages. Employed by Reno-Depot from 1987 to 2003, he became its president in 2001 and helped make it one of Quebec's most admired companies. He also served as president and CEO of the Société des alcools du Québec [Quebec's liquor board] from 2004 to 2007.
"Sylvain's vast knowledge of the beverage sector, combined with his expertise in consumer behaviour, makes him one of the best managers in the industry," said Mr. Michaud. "In addition, his proven ability to generate organizational growth will be extremely valuable to us."
Herschel Segal, DAVIDsTEA co-founder and majority shareholder, said he is very pleased with Mr. Toutant's decision to join the Company. "We founded David's Tea in 2008 and since then the business has grown continuously. We now find ourselves at an important time in our development, and I'm convinced Mr. Toutant will be an extraordinary asset for us as head of our business."
"Tea is the second most popular beverage on the planet, just after water," said Mr. Segal. "There is incredible potential for growth and we intend to play a leading role in this market," he added.
About DAVIDsTEA
Founded in 2008, DAVIDsTEA was the first to create a network of specialized boutiques and to bring to the market a variety of teas in an inviting modern and colourful setting. Today, David's Tea operates a network of more than 125 boutiques in Canada and the United States—San Francisco, Boston, New York and Chicago—offering a variety of 150 teas, including exclusive blends, seasonal collections in limited series, classic traditional teas and exotic infusions sourced from the four corners of the world. The Company also offers the largest collection of organic teas and infusions in North America. The head office of DAVIDsTEA is located in Montreal.
SOURCE DAVIDsTEA
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