TORONTO, Dec. 2, 2019 /CNW/ - Roots ("Roots," "Roots Canada") (TSX: ROOT), a premium outdoor lifestyle brand, today announced that Mona Kennedy has been named Chief Financial Officer, effective by the end of Q1 fiscal 2020. An accomplished retail industry finance executive, Ms. Kennedy brings with her extensive experience in finance, planning and analysis, capital markets, IT implementation, as well as corporate strategy development and execution.
"Mona is a talented senior executive whose financial acumen and retail industry experience will be an incredible asset to the company," said Jim Gabel, President and CEO, Roots. "In addition to her proven track record of driving business strategy and leading finance teams, she is a longstanding fan of the Roots brand. We are pleased to welcome her to the team."
In her role, Ms. Kennedy will oversee Roots financial operations, investor relations, real estate, loss prevention and IT, reporting directly to President and CEO, Jim Gabel. Ms. Kennedy is assuming the Chief Financial Officer role from Meghan Roach, Managing Director at Searchlight Capital Partners, who has been acting as Interim Chief Financial Officer since August 9, 2019.
"I would like to thank Meghan for the many contributions she has made in her time as interim CFO. She has been an asset to the team, and played an integral role in leading the integration of our new distribution centre," Mr. Gabel added.
Ms. Kennedy has two decades of finance and corporate strategy experience. She joins Roots from Indigo Books & Music Inc. where she was Vice President, Finance. Prior to indigo, she was at Maple Leaf Food Inc., where she spent more than a decade, and held increasingly senior roles in areas including corporate strategy, strategy execution and financial planning and analysis. Ms. Kennedy is a CPA, CMA, holds an MBA from INSEAD and a Bachelor of Commerce from Queen's University.
"I am thrilled to be joining Roots, an iconic Canadian brand that resonates so well globally," said Mona Kennedy. "I look forward to working with the incredibly talented team to continue to drive the Company's success."
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 at August 3, 2019, we had 116 corporate-retail stores in Canada, eight corporate-retail stores in the United States, 115 partner-operated stores in Taiwan, 34 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