August 30, 2013 (Calgary, AB) – TIM-BR MART Group (“the Company”), in keeping with its goal of managing the business with vision, discipline, structure and strong corporate governance, earlier this month retained outside advisers to conduct an independent review of operations. That review has identified isolated instances of failure to adhere to corporate reporting structure and corporate governance. As a consequence, President and CEO Tim Urquhart has accepted the Company’s request for his resignation, which is effective immediately.
Executive Vice President and Chief Operating Officer Barb Hopper remains on paid leave of absence. Michael Westrum, Chair of TIM-BR MART Group’s Board of Directors, will continue to act as CEO on an interim basis with the support of the senior leadership team in managing the Company’s day-to-day operations.
TIM-BR MART Group will continue on its path of growth and profitability for its dealers, while enhancing internal controls and efficiencies.
In operation since 1967, TIM-BR MART Group is a $2 billion+ member-owned organization serving over 750 building material and hardware retailers, commercial dealers and manufacturers across Canada. The organization exists to help Canadian entrepreneurs involved in the sale of building materials and hardware be more profitable.
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For more information, contact:
Jennifer Paige
Director of Communications
TIM-BR MART Group
Jennifer.paige@timbrmart.com
905.671.2424 ext 3054