The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Highlights of RONA's 2013 Annual Shareholders' Meeting

Tuesday, May 14, 2013

Highlights of RONA's 2013 Annual Shareholders' Meeting

16:45 EDT Tuesday, May 14, 2013

BOUCHERVILLE, QUEBEC--(Marketwired - May 14, 2013) - RONA Inc. (TSX:RON)(TSX:RON.PR.A), the largest Canadian distributor and retailer of hardware, renovation and gardening products, held its 2013 annual meeting of shareholders today. The following is a brief summary of the highlights of the meeting held at RONA's head office in Boucherville, Quebec.

The meeting was chaired by Robert Chevrier, Executive Chairman of the Board of Directors. Mr. Chevrier opened the meeting by saying that fiscal 2012 was a key year for RONA, as it marked the beginning a major transformation. "Shareholders made it clear to us that they wanted to see quick and significant changes. We understood what we had to do. We had to return to our strengths and focus on our profitable operations in order to realize RONA's full potential, and that's exactly what we are working on," he said.

He also noted the recent appointment of Robert Sawyer as President and Chief Executive Officer. With this appointment, the Board of Directors chose an expert in retail and distribution operations to lead RONA during this pivotal period.

Mr. Sawyer outlined the progress made on implementing RONA's three strategic priorities. "The initial results are encouraging but a great deal more remains to be done and will involve an in-depth review of RONA's commercialization, marketing and supply chain," he said. He also noted that Alain Brisebois would be taking up the duties of Executive Vice President and Chief Commercial Officer effective May 27, 2013. Mr. Brisebois is a veteran of retail sales who has held a number of strategic positions over the past 30 years.

Election of members of the Board of Directors

The following 13 nominees proposed by management at the meeting were elected as directors by a majority of the ballots cast. Together, they form a diversified and experienced team that will continue to provide counsel in the interests of the Corporation and all its stakeholders.

Nominee Votes for % for Abstentions % Abstaining
Suzanne Blanchet Quebec, Canada 91,500,970 97.77 % 2,087,448 2.23 %
Réal Brunet Quebec, Canada 92,310,449 98.63 % 1,277,969 1.37 %
Robert Chevrier Quebec, Canada 89,360,249 95.48 % 4,233,169 4.52 %
Eric Claus Nova Scotia, Canada 91,587,016 97.86 % 2,001,402 2.14 %
Bernard Dorval Ontario, Canada 92,289,544 98.61 % 1,298,674 1.39 %
Guy G. Dufresne Quebec, Canada 91,048,777 97.28 % 2,544,641 2.72 %
Barry Gilbertson London, UK 91,516,560 97.79 % 2,070,858 2.21 %
Jean-Guy Hébert Quebec, Canada 92,312,038 98.63 % 1,281,380 1.37 %
James Pantelidis Ontario, Canada 91,441,895 97.71 % 2,142,523 2.29 %
Robert Paré Quebec, Canada 91,958,090 98.26 % 1,630,328 1.74 %
Steven P. Richardson Ontario, Canada 91,602,144 97.87 % 1,991,274 2.13 %
Robert Sawyer Quebec, Canada 92,393,177 98.73 % 1,192,241 1.27 %
Wesley Voorheis Ontario, Canada 91,580,581 97.85 % 2,012,377 2.15 %

Final results on all matters voted on at the Annual Meeting of Shareholders held earlier today will be filed with Canadian securities regulators. Biographies of the RONA Board members are available at www.rona.ca/corporate/executive-committee.

Dominique Boies, Executive Vice President and Chief Financial Officer, summarized the financial results for fiscal 2012 and the first quarter of 2013. "We expect fiscal 2013 to be a demanding year, because it will require repositioning that will temporarily disrupt our operations. But we still have a strong balance sheet and, in this period of profound transformation of the Corporation, we will continue to maintain our highly disciplined approach to managing RONA's capital and ensuring efficiency."

Robert Sawyer concluded his remarks by outlining his vision of RONA as the top-performing hardware and building materials retailer in Canada, capable of satisfying its customers every day. "To carry out this vision, we must focus on four pillars in our daily operations: making our customers central to every decision, providing the best in-store execution, assembling the best team and, lastly, generating returns and growth for our shareholders.

Since taking up his duties, Mr. Sawyer has visited a number of stores to meet with employees and dealer-owners in the network. In just five weeks, he quickly grasped RONA's potential and reiterated his commitment to ramping up the transformation of RONA.

Mr. Boies and Mr. Sawyer remarks can be viewed in the "Recent Documents" section on the home page of RONA Inc. corporate website.

Forward-looking statements

This Press Release includes "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this Press Release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of the Corporation may constitute forward-looking statements within the meaning of the Canadian securities legislation and regulations. Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements.

For more information on the risks, uncertainties and assumptions that would cause the Corporation's actual results to differ from current expectations, please also refer to the Corporation's public filings available at www.sedar.com and www.rona.ca. In particular, further details and descriptions of these and other factors are disclosed in the MD&A under the "Risks and uncertainties" section and in the "Risk factors" section of the Corporation's current Annual Information Form.

The forward-looking statements in this Press Release reflect the Corporation's expectations as at May 14, 2013, and are subject to change after this date. The Corporation expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.

About RONA

RONA is the largest Canadian distributor and retailer of hardware, home renovation and gardening products. The Corporation operates over 800 corporate, franchise and affiliate retail stores of various sizes and formats under different banners, and a network of 14 hardware and construction materials distribution centres. RONA is also a leader in the specialized plumbing and HVAC market, primarily serving commercial and professional customers with a network of close to 60 sales outlets and four distribution centres across the country. With close to 28,000 employees, the RONA store network generates consolidated sales of $4.9 billion. For more information, visit rona.ca.

FOR FURTHER INFORMATION PLEASE CONTACT:

Contact Information:
Media
Valerie Lamarre
Senior Advisor, Communications and Public Affairs
514-599-5900, ext. 5271
valerie.lamarre@rona.ca


Financial Community
Stephane Milot
Vice President, Finance and Investor Relations
514-599-5951
stephane.milot@rona.ca


Carl Delisle
Director, Investor Relations, Treasury and Insurance
514-599-5900, ext. 5441
carl.delisle@rona.ca

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections