TORONTO, Aug. 6, 2019 /CNW/ - Roots ("Roots," "Roots Canada") (TSX: ROOT), a premium outdoor lifestyle brand, today announces that Meghan Roach, Managing Director at Searchlight Capital Partners, has been appointed Interim Chief Financial Officer, effective immediately.
"We are pleased with how our CFO recruitment process is progressing," said Jim Gabel, President and CEO, Roots. "In the meantime, we are glad to have Meghan step in, as we will benefit from her deep understanding of the Roots brand and business, extensive industry expertise and financial leadership."
Ms. Roach is joining Roots on an interim basis following the previously announced resignation of the Company's Chief Financial Officer, effective August 9, 2019.
Ms. Roach served on the Roots Board of Directors from 2015, when private investment firm, Searchlight Capital Partners acquired the Company, until Roots Initial Public Offering in October 2017. Ms. Roach holds a Canadian CPA, CA designation, and is currently on the Boards of M&M Food Market and Wellington A and Wellington B, the principal shareholders of Hunter Boot Ltd.
Following Roots Initial Public Offering, Searchlight Capital Partners remains the Company's largest shareholder.
Established in 1973, Roots is a premium outdoor lifestyle brand. We unite the best of cabin and city through unmistakable style built with uncompromising comfort and quality. We offer a broad range of products that embody a comfortable cabin-meets-city style including: women's and men's apparel, leather goods, footwear, accessories, and kids, toddler and baby apparel. Starting from a little cabin in Algonquin Park, Canada, Roots has grown to become a global brand. As of May 4, 2019, we had 114 corporate retail stores in Canada, seven corporate retail stores in the United States, 115 partner-operated stores in Taiwan, 39 partner-operated stores in China, one partner-operated store in Hong Kong and a global eCommerce platform. Roots Corporation is a Canadian corporation doing business as "Roots" and "Roots Canada".
Certain information in this press release contains forward-looking information. This information is based on management's reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release. Actual results and the timing of events may differ materially from those anticipated in the forward-looking information as a result of various factors. Information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. Statements containing forward-looking information are not facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements.
See "Forward-Looking Information" and "Risk Factors" in the Company's current Annual Information Form for a discussion of the uncertainties, risks and assumptions associated with these statements. Readers are urged to consider the uncertainties, risks and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. We have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law.
SOURCE Roots Corporation