TORONTO, Nov. 8, 2023 /CNW/ - Meghan Roach, President and Chief Executive Officer of global lifestyle brand Roots Corporation (TSX: ROOT; the "Brand"), has been recognized as one of Canada's Most Powerful CEOs by Women's Executive Network ("WXN") as part of the 2023 Canada's Most Powerful Women: Top 100 Awards. In addition, Ms. Roach has been awarded the prestigious Fellow distinction (FCPA, FCA) by CPA Ontario.
The Canada's Most Powerful CEOs Award recognizes individuals who exemplify the attributes of a powerful visionary with a strong foundational character, a sense of integrity, and the ability to elicit public trust. The award is open to publicly traded or privately owned companies, the public sector, and not-for-profit organizations. The distinction of Fellow (FCPA) formally recognizes CPAs who have rendered exceptional service to the profession and in their communities. Issued by CPA Ontario, becoming an FCPA is the highest honour a CPA can receive.
"I am humbled to be recognized as one of Canada's Most Powerful CEOs by WXN. This award is a testament to the incredible team at Roots, whose dedication, innovation, and commitment to excellence have propelled us forward, even in challenging times," said Meghan Roach, Roots President and Chief Executive Officer. She added, "It is an honour to receive the distinction of Fellow from the Chartered Professional Accountants profession as it has been a designation that has been instrumental to my career development and professional growth."
Roach joined Roots as President and Chief Executive Officer in January 2020 after a short period as its interim Chief Financial Officer following her election to its board of directors. She continues to serve on the Roots board and previously served as a director from 2015 until the Roots IPO in 2017. Before Roots, Roach held various private equity and finance roles in North America and Europe at Searchlight Capital Partners, Ontario Teachers' Pension Plan, and KPMG LLP. She has held numerous board positions with public and private companies globally. In addition to the Roots board, Roach currently acts as Vice Chair for the Holland Bloorview Kids Rehabilitation Hospital Foundation.
In addition to leading Roots through the unprecedented Covid-19 Pandemic, Roach has also overseen significant transformation and innovation in essential operational areas in the business since joining Roots as CEO. The meaningful advancement of ESG initiatives at Roots, including joining the Fair Labour Association and moving over 85% of its products to sustainable materials within the last three years, has been a priority during her leadership. The Brand has also significantly expanded its omnichannel capabilities, enhancing the online customer experience and creating a seamless omnichannel platform that includes the usage of stores as fulfillment hubs and a single integrated distribution centre to serve all channels.
Roots has continued its international expansion with a brand relaunch in China as well as online enhancements to facilitate local currency transactions globally. Roach and her team have also been successful in stabilizing the Roots financial position and enhancing gross margin through promotional discipline, while maintaining the Brand's commitment to quality. In line with its core value of community, in February 2020, the Brand launched Roots Cares, which oversees a diverse set of charitable initiatives and has donated over $3 million in cash and in-kind donations to organizations in the many communities in which the company operates. "Meghan has brought strategic insights, decisive leadership, financial rigour, and a growth mindset to Roots," said Erol Uzumeri, Chairman of the Roots Board of Directors. "On behalf of the Board of Directors, we congratulate her on these well-deserved recognitions."
Roach continues to lead the Roots team by balancing the Brand's heritage with purpose and style to ensure Roots continued and enduring relevance. In August 2023, Roots celebrated its 50th Anniversary, a year-long celebration coinciding with the relaunch of the Brand's heritage footwear collection and collaborations with Barbie™ and Heather Cooper, the creator of Roots iconic beaver logo. Tapping into the deep emotional connections the Brand has built over the last 50 years, Roots will be pulling from its rich archives for its limited-edition anniversary collections, resurrecting past favourites all the way from the 70s, 80s, and 90s, and releasing future-forward designs that honour its rich heritage as well as the Canadian environment that serves as a consistent thread of inspiration. Throughout the year and until July 2024, a carefully curated assortment of must-have commemorative products with limited runs alongside capsule collections will excite long-time Roots loyalists and garner fanfare from a new consumer base. Roots will be launching its first Asia-based collaboration in November 2023.
Established in 1973, Roots is a global lifestyle brand. Starting from a small cabin in northern Canada, Roots has become a global brand with over 100 corporate retail stores in Canada, two stores in the United States, and an eCommerce platform, roots.com. We have more than 100 partner-operated stores in Asia, and we also operate a dedicated Roots-branded storefront on Tmall.com in China. We design, market, and sell a broad selection of products in different departments, including women's men's, children's, and gender-free apparel, leather goods, footwear, and accessories. Our products are built with uncompromising comfort, quality, and style that allows you to feel At Home With Nature™. We offer products designed to meet life's everyday adventures and provide you with the versatility to live your life to the fullest. We also wholesale through business-to-business channels and license the brand to a select group of licensees selling products to major retailers. Roots Corporation is a Canadian corporation doing business as "Roots" and "Roots Canada".
SOURCE Roots
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