CALGARY, Alberta (April 15, 2019)
-- Cervus Equipment Corporation ("Cervus" or "the Company") (TSX: CERV) Board of Directors is very pleased to announce that Angela Lekatsas will succeed Graham Drake as President and Chief Executive Officer of the Company upon his planned retirement on May 15, 2019.
"After lengthy and diligent succession planning by the Board, including a broad executive search process conducted with DHR International, we have selected an inspirational and strategic leader to assume the President and CEO position. In addition to significant leadership experience, Ms. Lekatsas has invaluable knowledge gained during her tenure on the Board of Directors of Cervus since 2013," said Cervus Chair of the Board Peter Lacey.
Ms. Lekatsas brings a wealth of experience as a former executive with Nutrien (and predecessor Agrium) for 15 years following a lengthy career as a Chartered Accountant in public practice. With a background in Agriculture, Manufacturing, Mining and Distribution, Ms. Lekatsas held numerous leadership positions in finance and operations and is a multifaceted leader who spearheaded critical initiatives including delivering operational improvements streamlining process, acquisitions, integration and enterprise risk management. Most recently Ms. Lekatsas was Vice President, Merger Integration responsible for capturing $500 million in synergies from the merger of Agrium Inc. and Potash Corporation of Saskatchewan.
"I'm honored to be chosen by the Board for the opportunity to lead this organization of exceptional and dedicated people. I am excited to bring my focus on profitable growth, innovation and technology, and operational efficiency to the future strategic vision of Cervus Equipment," said Ms. Lekatsas. "I am passionate about fostering a culture focussed on value creation, and I look forward to sharing this with the customers, employees, OEMs and shareholders of Cervus."
Ms. Lekatsas holds a Bachelor of Commerce degree from the University of Saskatchewan as well as a CPA, CA designation from the Chartered Professional Accountants of Canada. In addition, Ms. Lekatsas holds the Institute of Corporate Directors ICD.D designation from the University of Toronto Rotman Directors Education Program.
Graham Drake will retire from the CEO post on May 15, 2019 and will assist in the transition in the coming weeks. "We want to thank Graham Drake for his innumerable contributions to the success of Cervus. Over the past 19 years, he has worn many hats, including co-founder, director and President and CEO. We wish Graham and his family all the best in his well-deserved retirement and express our admiration to him for being a strong leader and friend for 19 years," said Mr. Lacey.
About Cervus Equipment Corporation
Cervus acquires and operates authorized agricultural, transportation and materials handling equipment dealerships. The Company has interests in 63 dealerships in Canada, New Zealand, and Australia, employing more than 1,500 people. The primary equipment brands represented by Cervus include John Deere agricultural equipment; Peterbilt transportation equipment; and Clark, Sellick, Doosan, JLG and Baumann material handling equipment. The common shares of Cervus are listed on the Toronto Stock Exchange and trade under the symbol "CERV".
For more information please contact:
Graham Drake – President & CEO
Adam Lowther – Chief Financial Officer