March 12, 2020 / 11:48 AM / 4 months ago

UPDATE 1-Canadian Tire appoints retail head Greg Hicks as new CEO

(Add details from statement)

March 12 (Reuters) - Diversified retailer Canadian Tire Corp Ltd said on Thursday Greg Hicks would succeed Chief Executive Officer Stephen Wetmore.

Hicks most recently served as president of Canadian Tire's retail unit, the company's largest business with about 500 stores across Canada.

Hicks has also been overseeing the company's e-commerce strategy, an area of focus for the retailer as it competes with giants and Walmart.

Wetmore is retiring, effective immediately, after nine years as CEO - first stint was between 2009 and 2014, second from July 2016.

He is also stepping down as a member of the board and will act as an adviser to the company as an honorary director until the end of 2020.

The company said it appointed Hicks from a pool of internal and external global candidates.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Maju Samuel and Shinjini Ganguli

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