CANADIAN TIRE REALIGNS BUSINESS UNITS
By Adnews Staff
Toronto-based Canadian Tire Corporation, Limited's restructuring of its business units has resulted in the creation of three new divisions: Canadian Tire Retail, Canadian Tire Financial Services and New Business Development. Canadian Tire Retail will be led by Mark Foote as president. Foote, most recently senior vice president of marketing within the corporation, will be responsible for the operation of the unit including Canadian Tire's store network, petroleum outlets and online consumer business, expected to launch by the end of the year. The new Canadian Tire Financial Services unit will be led by Tim Gauld as president. Gauld will be responsible for development of the division's growth strategies including creating and marketing financial products and services. The New Business Development unit will be responsible for developing long-term growth strategies. A president to lead this unit is expected to be announced shortly. According to Wayne Sales, president and CEO of Canadian Tire Corporation, the restructuring is part of the company's growth strategy.