TORONTO, May 24, 2018 /CNW/ - Axis Auto Finance Inc. ("Axis" or the "Company"), (TSXV: AXIS) a non-prime lender servicing the Canadian used vehicle market, announced today that Gerry Thom and Wes Neichenbauer have been appointed to its Board of Directors while David Mitchell and Fraser Clarke have resigned from the Board.
Mr. Thom brings more than 35 years of experience in operations management, both in the private and public sectors. Before retiring from the government of Canada in 2017, he was the acting President of the Public Service Commission managing 700 employees and a budget close to $100 million. Mr. Thom also held key Vice President positions namely VP Corporate Affairs including the Chief Financial Officer's responsibility, VP Services in Human Resources delivering services across Canada through 7 regional offices and Senior VP Policy, accountable for the renewal and innovation agenda for the organization. He is now affiliated with the UOttawa, developing and delivering a leadership program for Executives called Leading People for Results. He started his career with the Royal Bank of Canada after completing a Bachelor in Administration and a Bachelor (honours) in Public Administration at UOttawa.
Mr. Neichenbauer currently serves as the Vice President and Chief Financial Officer of Rowntree Enterprises Inc. and its associated companies, where he is also a Director, he has been with Rowntree since 2006. He has deep experience in the automotive and real estate sectors, both on the operations and finance sides of the businesses. Prior to joining Rowntree, Wes was the CFO, a Director and shareholder of Applewood Holdings Inc., the CFO of Patriot Equities Corporation (TSX: PEQ) and worked in investment banking with RBC Capital Markets. Mr. Neichenbauer currently serves on the Board of WALKAWAY Insurance (2005 – Present) and was on the Board of Trend Finance Corp. (2014 – 2018). He holds an Honours BA from the University of Western Ontario and is a Chartered Professional Accountant (CPA, CA).
"We welcome Mr. Thom and Mr. Neichenbauer to our Board," said Todd Hudson, CEO of Axis. "Mr. Thom's public sector experience and Mr. Neichenbauer's automotive retail experience bring an additional depth of knowledge to the Board which will become ever more important as the Axis continues to grow," he added.
Simultaneously with the appointment of Mr. Thom and Mr. Neichenbauer, Fraser Clarke and David Mitchell have resigned their positions on the Board of Axis. Mr. Clarke and Mr. Mitchell have served on the Board since 2015 and 2016, respectively.
"Over the last 2 years, Mr. Clarke and Mr. Mitchell have helped Axis manage our tremendous growth and the pains associated with such a quick pace of development," said Ilja Troitschanski, President of Axis. "We thank them for all the hard work and wish them well in their future endeavours," he added.
Axis maintains a majority independent Board of Directors with 5 out of 7 members being independent.
About Axis Auto Finance
Axis provides non-standard financing options targeting roughly 30% of Canadians (Source: Equifax) that do not qualify for traditional bank-type financing for their used vehicle purchase. Through personalized service and a commitment to building strong, long-lasting relationships with dealer partners, Axis continues to be one of Canada's fastest-growing auto-financing companies.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Axis Auto Finance Inc.
For further information: Axis Auto Finance Inc., Ilja Troitschanski, President, (416) 633-5626, [email protected]