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WINNIPEG, MB, Oct. 28,
2022 /CNW/ - Boyd Group Services Inc. (TSX: BYD)
("BGSI", "Boyd", or "the Boyd Group") is pleased to announce
the appointment of Brian Kaner as
Executive Vice President and Chief Operating Officer for the Boyd
Group's collision business, effective October 31, 2022. In this role, Mr. Kaner will
have responsibility for Boyd's collision operations in both
the United States and
Canada.
"This change to our top-level structure is being made to
add further strength to our executive team and to align our
organization with the needs of the business, given our planned
growth and the changes we have experienced over recent years,"
said Timothy O'Day, President and
Chief Executive Officer of the Boyd Group. "Brian's experience with
large organizations as an executive officer in both
operational and financial roles will be an asset to our
business, adding breadth and depth of experience and knowledge
at the executive level."
"I look forward to working closely with Brian and the rest of
the executive team over the next several years, as we continue to
grow our business, with the goal of doubling the size of the
business over the five year period from 2021 to 2025, based on 2019
revenues," added Mr. O'Day. "At this time, the previously announced
search to succeed Mr. Pat
Pathipati in the role of Executive Vice President and Chief
Financial Officer is proceeding along planned timelines and will be
announced upon its conclusion."
Mr. Kaner was previously CEO & President of Pep Boys &
Icahn Automotive Services where he led all functional disciplines
and field leadership teams overseeing 1,000 company owned and
nearly 800 franchise locations. Before joining Icahn
Enterprises L.P., Mr. Kaner worked for Sears Holdings
Corporation as President of Sears Auto Centers. He holds a
Bachelor's degree in Accounting from Illinois
State University.
"I am very excited to be taking on this new role," added Mr.
Kaner. "The opportunity to learn and add value at a company
with a long track record of consistent performance and growth
is a tremendous one. I look forward to working with Tim and
the rest of the executive team as we continue growing the
business and creating value for our shareholders."
About Boyd Group Services Inc.
Boyd Group Services
Inc. ("BGSI") is a Canadian corporation and controls The Boyd Group
Inc. and its subsidiaries. BGSI shares trade on the Toronto Stock
Exchange (TSX) under the symbol BYD.TO. For more information on The
Boyd Group Inc. or BGSI, please visit our website at
http://www.boydgroup.com.
About The Boyd Group Inc.
The Boyd Group Inc. (the
"Company") is one of the largest operators of non-franchised
collision repair centres in North
America in terms of number of locations and sales. The
Company operates locations in Canada under the trade names Boyd Autobody
& Glass (https://www.boydautobody.com) and Assured Automotive
(https://www.assuredauto.ca) as well as in the U.S. under the trade
name Gerber Collision & Glass
(https://www.gerbercollision.com). In addition, the Company is a
major retail auto glass operator in the U.S. with operations under
the trade names Gerber Collision & Glass, Glass America, Auto
Glass Service, Auto Glass Authority and Autoglassonly.com. The
Company also operates a third party administrator, Gerber National
Claims Services ("GNCS"), that offers glass, emergency roadside and
first notice of loss services. For more information on The Boyd
Group Inc. or Boyd Group Services Inc., please visit our website at
(https://www.boydgroup.com).
Caution concerning forward-looking
statements
Statements made in this press release,
other than those concerning historical financial information, may
be forward-looking and therefore subject to various risks and
uncertainties. Some forward-looking statements may be identified by
words like "may", "will", "anticipate", "estimate", "expect",
"intend", or "continue" or the negative thereof or similar
variations. Readers are cautioned not to place undue reliance on
such statements, as actual results may differ materially from those
expressed or implied in such statements. Factors that could cause
results to vary include, but are not limited to: employee relations
and staffing; margin pressure and sales mix changes; supply chain
risk; pandemic risk & economic downturn; acquisition risk;
operational performance; brand management and reputation; market
environment change; reliance on technology; changes in client
relationships; decline in number of insurance claims;
environmental, health and safety risk; climate change and weather
conditions; competition; access to capital; dependence on key
personnel; tax position risk; corporate governance; increased
government regulation and tax risk; fluctuations in operating
results and seasonality; risk of litigation; execution on new
strategies; insurance risk; interest rates; U.S. health care costs
and workers compensation claims; foreign currency risk; low capture
rates; capital expenditures; and energy costs and BGSI's success in
anticipating and managing the foregoing risks.
We caution that the foregoing list of factors is not
exhaustive and that when reviewing our forward-looking statements,
investors and others should refer to the "Risk Factors" section of
BGSI's Annual Information Form, the "Risks and Uncertainties" and
other sections of our Management's Discussion and Analysis of
Operating Results and Financial Position and our other periodic
filings with Canadian securities regulatory authorities. All
forward-looking statements presented herein should be considered in
conjunction with such filings.
SOURCE Boyd Group Services Inc.