Canadian Tire Corporation Named One of Canada's Best Managed Companies

TORONTO, March 25, 2014 /CNW/ - Canadian Tire Corporation, Limited  (TSX:CTC, TSX:CTC.a) salutes its team across the country that contributed to its recent win as one of Canada's Best Managed Companies program for 2013. This honour was given in recognition of the Company's high-performing culture and innovative business strategy and is part of a program sponsored by Deloitte, CIBC, National Post, Queen's School of Business and Mackay CEO Forums

"It's a great honour to be recognized as one of Canada's Best Managed Companies," said Doug Nathanson, Chief Human Resources Officer, Canadian Tire Corporation. "We have seen a significant cultural shift in the past few years at Canadian Tire that has increased employee engagement, positively impacted financial results and heightened pride in the Canadian Tire brand – all of which is a testament to our dedicated employees and strong leadership team." 

For more than 90 years, Canadian Tire has been a part of Canada's cultural fabric. With roots as a one-store operation, the Company has grown to nearly 1,700 retail and gasoline outlets across its Family of Companies, which includes Canadian Tire retail stores, PartSource, Gas+, FGL Sports (Sport Chek, Hockey Experts, Sports Experts, Pro Hockey Life, National Sports, S3 and Atmosphere), Mark's, Canadian Tire Jumpstart Charities and CT REIT, and is supported by Canadian Tire Financial Services. Today, more than 85,000 people are employed across the Canadian Tire enterprise, which was founded in 1922 and remains one of Canada's most recognized and trusted brands.  

"Canadian Tire has always delivered what our customers and communities need for life in Canada, thanks to the loyalty and dedication of our team. Across our family of companies, we are constantly implementing new and sustainable solutions to meet customer, employee and investor expectations, while strengthening our position within the industry," added Nathanson.

Established in 1993, Canada's Best Managed Companies is the country's leading business awards program recognizing Canadian companies that have implemented world-class business practices and created value in innovative ways.  Applications are reviewed by an independent judging panel that evaluates how companies address various business challenges, including brand management, new technologies, globalization, leadership, leveraging and developing core competencies, designing information systems, and hiring the right talent to facilitate growth and support corporate culture.

"We believe that there are three vital building blocks to sustainable growth: strategy, capability, and commitment; Canadian Tire Corporation has demonstrated it is a model of success in all three areas and is duly recognized as one of Canada's Best Managed," said John Hughes, National Leader of Canada's Best Managed Companies and Managing Partner, Growth Enterprises, Deloitte.

For the full list of 2013 winners of Canada's Best Managed Companies program, visit https://www.canadas50best.com/en/meetourwinners/Pages/BestManagedWinners.aspx.  

About Canadian Tire

Canadian Tire Corporation, Limited, (TSX:CTC.A) (TSX:CTC) or "CTC," is a family of businesses that includes a retail segment, a financial services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal categories. PartSource and Gas+ are key parts of the Canadian Tire network. The retail segment also includes Mark's, a leading source for casual and industrial wear, and FGL Sports (Sport Chek, Hockey Experts, Sports Experts, National Sports, Intersport, Pro Hockey Life and Atmosphere), which offers the best active wear brands. The nearly 1,700 retail and gasoline outlets are supported and strengthened by our Financial Services division and the approximately 85,000 people employed across the Company. For more information, visit Corp.CanadianTire.ca. 

About Canada's Best Managed Companies

Canada's Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed companies with revenues over $10 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Best Managed winner (one of the new winners selected each year); 2) Requalified member (repeat winners retain the Best Managed designation for two additional years, subject to annual operational and financial review); 3) Gold Standard winner (After three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully reapplied for the designation. Companies may requalify for two additional years, subject to annual operational and financial review; 4) Platinum Club member (winners that maintain Best Managed status for a minimum of seven consecutive years). Program sponsors are Deloitte, CIBC, National Post, Queen's School of Business and MacKay CEO Forums. For further information, visit www.bestmanagedcompanies.ca.

SOURCE: CANADIAN TIRE CORPORATION, LIMITED

Joscelyn Dosanjh, Manager, Corporate Communications, T: 416.480.8017, [email protected]