CALGARY, Feb. 2, 2015 /CNW/ - Rocky Mountain Dealerships Inc. ("Rocky") announced today the appointment of Mr. Garrett Ganden as President and Chief Executive Officer of Rocky, effective February 2, 2015. Mr. Ganden currently serves as Rocky's Chief Operating Officer, a position he has held since 2011. Prior to that appointment, Mr. Ganden had served as Rocky's Chief Financial Officer since 2007.
As previously disclosed, Rocky retained a leading international executive search firm to assist in finding and vetting both internal and external candidates, as part of a thoughtful and thorough selection process that its shareholders, customers and employees expected and deserved. Commenting on this appointment, Matt Campbell, Rocky's Chairman and retiring Chief Executive Officer, stated, "There is no better person than Garrett to assume the leadership of Rocky at this time. He has been involved in the company since its inception and has first-hand knowledge of Rocky's business, operations, employees and stakeholders. He has guided Rocky through numerous acquisitions, has played a key role in developing Rocky's strategy, and has strong relationships with our OEM partners. He has built an exceptionally capable senior management team to assist him in leading the company through the next phase of its growth and development."
Derek Stimson, co-founder and retiring President of Rocky added, "Having worked with Garrett for several years, I know that he is the right leader at the right time for Rocky. No one is more knowledgeable about Rocky's business than he is."
"I feel honored to be asked to lead Rocky at this important period," said Mr. Ganden. "Matt and Derek have made significant contributions to Rocky since its founding in 2007, and will be difficult to replace. That said, I am privileged to have a very strong executive leadership team in place, from which I believe we can continue to build the foundation for meeting our customers' ever-evolving demands, while delivering sustainable improvement in long-term shareholder value."
Rocky's Board of Directors also announced today that Mr. Campbell and Mr. Stimson will retire from their management roles effective February 2, 2015, but will both retain leadership roles on the Board for the foreseeable future. Mr. Campbell will remain as Chair of the Board of Directors and Mr. Stimson has been appointed as Vice Chair, both effective February 2, 2015.
The Board of Directors is extremely appreciative of both Mr. Campbell and Mr. Stimson's significant contribution in building Rocky's business into a billion dollar enterprise since its Initial Public Offering in late 2007. Paul Walters, Rocky's Lead Independent Director, commented, "We feel fortunate that both Matt and Derek will continue to help build and guide the business through their continuing involvement on the Board. The appointments the Board of Directors has announced today underscore our continued confidence in the management team at Rocky and the strategic direction of the business."
Caution regarding forward-looking statements
Certain information set forth in this news release, including, without limitation, statements about any delivery or improvement of long-term value for shareholders as a result of Mr. Ganden's appointment, or any positive benefits that may come about by reason of the appointment of Mr. Ganden or from Rocky's executive leadership, and comments regarding the strategic direction of the business or implying any future benefit or profit, may be considered forward looking information by applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Rocky's control. While this forward-looking information is based on information and assumptions that Rocky's management believes to be reasonable, there is significant risk that the forward-looking statements will prove not to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future performance and events to differ materially from that expressed in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and qualified by risks and other factors discussed by Rocky in its management's discussion and analysis ("MD&A") for the year ended December 31, 2013, and as discussed in Rocky's Annual Information Form dated March 11, 2014 under the heading "Risk Factors." Except as required by law, Rocky disclaims any intention or obligation to update or revise forward-looking statements, and further reserves the right to change, at any time, at its sole discretion, its current practice of updating its guidance and outlooks.
Rocky is one of Canada's largest agriculture and construction equipment dealership networks with branches located throughout Alberta, Saskatchewan, and Manitoba. Through its network of Rocky Mountain Equipment locations, Rocky sells, rents, and leases new and used agriculture and construction equipment and offers product support and finance to its customers.
Additional information on Rocky is available at www.rockymtn.com and on SEDAR at www.sedar.com.
SOURCE Rocky Mountain Dealerships Inc.
For further information: Rocky Mountain Dealerships Inc., Garrett Ganden, President and Chief Executive Officer; or David Ascott, Chief Financial Officer, #301, 3345 8th Street S.E., Calgary, Alberta T2G 3A4, Telephone: (403) 265-7364, Fax: (403) 214-5644