Vi Konkle Assumes Role as The Brick's President and CEO
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Bill Gregson Continues as Executive Chairman of The Brick
EDMONTON, Jan. 4, 2012 /CNW/ - The Brick Ltd. (TSX: BRK) (the "Brick Group") today confirms the appointment of Mrs. Vi Konkle as President and Chief Executive Officer of the Brick Group and Mr. Bill Gregson as Executive Chairman of the Board of the Brick Group effective January 1, 2012, as previously announced on April 7, 2011.
Vi Konkle succeeds Mr. Gregson as President and Chief Executive Officer. Since joining the Brick Group on February 3, 2010, Mrs. Konkle had held the position of President, Business Support. Prior to joining the Brick Group, Mrs. Konkle held a number of positions with Wal-Mart Canada, including Chief Operating Officer, and with Loblaw Companies Ltd. "I am looking forward to leading The Brick during these exciting times," said Ms. Konkle. "Under Mr. Gregson's leadership, we built a solid foundation from which our Brick Team can keep striving to ensure The Brick is Canada's preferred choice for buying furniture, mattresses, appliances and electronics."
Mr. Gregson, who has served on the Board of Directors of the Brick Group since joining the Brick Group on July 10, 2009 as President and Chief Executive Officer, assumed the position of Executive Chairman effective January 1, 2012. "We have a fantastic team led by Vi Konkle, and I am thrilled to be continuing to contribute to The Brick in this new capacity," noted Mr. Gregson. "Vi has demonstrated strong leadership and retail acumen at The Brick and I am confident that she will lead the Brick team to continued growth, profitability and relevance to the Canadian customer."
These changes are part of the Brick Group's succession planning that were previously announced on April 7, 2011.
About the Brick Group
The Brick Group, together with its subsidiaries, is one of Canada's largest volume retailers of household furniture, mattresses, appliances and home electronics, operating under five banners: The Brick, United Furniture Warehouse, The Brick Superstore, The Brick Mattress Store, and Urban Brick. In addition, through its corporate sales division, the Brick Group services the subdivision, condominium, and high-rise builder market. The Brick Group's retail operations are located in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Prince Edward Island, Nova Scotia, New Brunswick and Yukon.
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities laws, including (but not limited to) statements about the Brick's consolidated sales and operating revenue, consolidated EBITDA, consolidated net loss, sales and operating revenue in the financial services and retail segments, same store sales growth and goodwill and indefinite life intangible asset impairment charges, the financial flexibility and capital resources necessary to manage the business in the current economic environment, and similar statements concerning anticipated future events, results, circumstances, performance or expectations, that reflect management's current expectations and are based on information currently available to management of the Brick and its subsidiaries. The words "may", "will", "should", "believe", "expect", "plan", "anticipate", "intend", "estimate", "predict", "potential", "continue" or the negative of these terms, or other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters, identify forward-looking matters. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Brick to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. The Brick undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.
| Vi Konkle |
President and CEO
The Brick Group
| Greg Nakonechny |
Vice President, Legal and Corporate Secretary
The Brick Group