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Toromont Industries Ltd.

TSX Exchange | Aug 25, 2019, 9:26 PM EDT | Real-time price

TIH $ 61.49 RT
CHANGE
-1.23 (-1.9611%)
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64,333.00
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Day High: 62.90
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Toromont Announces New Director Nominees

TORONTO, Feb. 15, 2019 (GLOBE NEWSWIRE) -- The Board of Directors of Toromont Industries Ltd. (TIH) is pleased to announce that it intends to nominate two new independent directors, Peter J. Blake and Sharon L. Hodgson, for appointment at the next annual meeting of Toromont’s shareholders. 

“We are extremely pleased to nominate Mr. Blake and Ms. Hodgson to join Toromont’s Board of Directors,” said Robert M. Ogilvie, Chair, Toromont. “In addition to their substantial business and technical acumen, Mr. Blake and Ms. Hodgson bring a wealth of experience and understanding from their respective areas of expertise.”

Mr. Blake is an accomplished public company CEO with highly relevant and analogous heavy equipment sales, auction and distribution experience, gained through a progressive, 23-plus year career with Ritchie Bros., and recently with WesternOne, a smaller-scale equipment renter/distributor. Mr. Blake received his education from the University of Alberta and the BC Institute of Technology, becoming a Chartered Accountant in 1987. 

Ms. Hodgson is an accomplished 30-year veteran in technology/digital/AI consulting, who has spent 17 years within IBM’s consulting arm, Global Business Services. She has significant global and North American-level business leadership experience and has served as a “front line” delivery professional of IBM’s capabilities, as well as a builder of these capabilities, both technical and commercial.  Ms. Hodgson received her education from Wharton School of the University of Pennsylvania M.B.A. in 1995, and the University of Manitoba, B.Com., Accounting, Business, Management Information Systems, in 1987.   

With the proposed additions of Mr. Blake and Ms. Hodgson in May, 2019, the Company’s Board of Directors will consist of eleven members, of whom ten are independent.

About Toromont

Toromont Industries Ltd. operates through two business segments: The Equipment Group and CIMCO.  The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory - spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario and Manitoba in addition to most of the territory of Nunavut.  In addition, the Group includes industry leading rental operations, a complementary material handling business and an agricultural equipment business.  CIMCO is a market leader in the design, engineering, fabrication and installation of industrial and recreational refrigeration systems. Both segments offer comprehensive product support capabilities. This press release and more information about Toromont Industries can be found at www.toromont.com.

For more information contact:

Paul R. Jewer 
Executive Vice President and Chief Financial Officer
Toromont Industries Ltd.
T: (416) 514-4790

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