Stephane Gonthier will become the president and CEO of U.S.-based discount retailer 99 Cents Only Stores, a portfolio company of private equity firm Ares Management and Canada Pension Plan Investment Board (CPPIB). Gonthier was previously COO of Canadian retailer Dollarama Inc. (TSX: DOL), a role he held during the company’s ownership by Bain Capital, and subsequent initial public offering in 2009. Ares and CPPIB acquired 99 Cents Only Stores for US$1.6 billion in 2012.
Dollarama Announces Departure of Chief Operating Officer
MONTREAL, Aug. 12, 2013 /CNW Telbec/ – Dollarama Inc. (“Dollarama” or the “Corporation”) (TSX: DOL) announces that Stephane Gonthier, Chief Operating Officer since September 2007, will be leaving the Corporation to become President and Chief Executive Officer of 99¢ Only Stores®, a U.S. retailer headquartered in California.
“During his six-year tenure, Stephane has been an important member of the team that has led the growth and success of Dollarama. We thank him for his tremendous contribution and exceptional leadership and wish him the very best in his new position,” said Mr. Larry Rossy, Chairman and Chief Executive Officer of Dollarama. “Stephane has helped develop a very strong and talented management team over the years, a team that has played an active role in developing our growth strategy and business model, and we will continue to build on this solid foundation.”
“My time at Dollarama has been a great experience and I am proud of what we have all accomplished together. The decision to leave was a difficult one but I am confident that Dollarama is well positioned for the future, with the right people and resources in place to continue to deliver on its strategic plan,” said Mr. Gonthier. “I would like to thank Larry and the Board of Directors as well as Dollarama’s management and employees for an incredible journey.”
Mr. Gonthier will continue in his role for an interim period to ensure a smooth and orderly transition before moving to the United States with his family. An executive search will begin immediately under the direction of the Board of Directors of Dollarama. After Mr. Gonthier’s departure and until a successor is appointed, Mr. Rossy, Dollarama’s Chairman and Chief Executive Officer, will assume the duties and responsibilities of the Chief Operating Officer in collaboration with other members of the senior management team.
Dollarama is Canada’s leading dollar store operator with 806 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. Products are sold in individual or multiple units at select fixed price points up to $3.00.
Certain statements in this news 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 in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other 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, without limitation, the factors discussed in the “Risks and Uncertainties” section of the Corporation’s management’s discussion and analysis (MD&A) for Fiscal 2013 and in its continuous disclosure filings (available on SEDAR at www.sedar.com).
Unless otherwise stated, the forward-looking statements contained in this news release are made as of August 12, 2013, 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 news release are expressly qualified by this cautionary statement.
SOURCE Dollarama Inc.
For further information:
Michael Ross, FCPA, FCA
Chief Financial Officer and Secretary
(514) 737-1006 x1237
NATIONAL Public Relations