Home Hardware Announces Two Significant Appointments

ST. JACOBS, ON, April 29 /CNW/ - Home Hardware Stores Limited announced two significant appointments at its annual Shareholders meeting on April 16th. Paul Straus, Vice-President and CEO, was appointed President and CEO and Terry Davis, Home Hardware's Vice-President Administration and Strategic Planning, was appointed Executive Vice-President and Chief Operating Officer.

Company co-founder and President, Walter Hachborn also announced his retirement. Hachborn will remain as President Emeritus.

"Home Hardware has been blessed with a strong management team and we have seen many successes with Paul at the helm. I've witnessed Paul as he has provided leadership, insight and knowledge, leading this company for 21 years, since 1989. I'm confident that he will continue to guide Home Hardware and our Dealers to a bright future," said Walter Hachborn, President Emeritus and Co-Founder of Home Hardware Stores Limited.

Paul Straus has worked for Home Hardware since its founding in 1964. Straus became Vice-President Controller in 1978, Vice-President Finance and Administration in 1985 and was appointed Executive Vice-President and General Manager on January 1, 1989. On April 19, 1999 he was appointed Vice-President and Chief Executive Officer.

"Home Hardware is leading the industry when it comes to new Dealer growth. The unique structure of our company allows Home Dealers to retain their independence and entrepreneurial pursuits, while also belonging to a strong and stable company backed by a powerful brand," said Straus. "As we look forward, we can be confident that the business model on which Home was founded continues to be realistic, profitable and successful for our independent Dealers."

Terry Davis joined Home Hardware in 1970 and has held a number of important positions within the organization. He became Data Services Manager in 1980 and held a number of information technology positions, including Vice-President, through to 2007. For various periods from 1990 to 2000 Terry also held the positions of Vice-President, Marketing and Vice-President, Dealer Development. In 2007 he became Vice-President, Administration and Strategic Planning.

"I have had the pleasure of working alongside Terry since he joined the Home team. His recent promotion recognizes the significant role Terry plays in the strategic growth and operation of Home Hardware Stores Limited," said Paul Straus, President and CEO, Home Hardware Stores Limited.

Since its founding in 1964, Home Hardware has grown to include 1,070 locations comprising more than 9.4 million square feet of retail space. The coast-to-coast network of stores is backed by more than 2.9 million square feet of state-of-the-art warehousing and distribution centres in six locations across the country, and a fleet of trucks that delivers new product weekly.

About Home Hardware Stores Limited

Home Hardware Stores Limited is Canada's largest independent hardware, lumber and building materials and furniture retailer with 1,070 stores across Canada, under the Home Hardware, Home Building Centre, Home Hardware Building Centre and Home Furniture banners. Dealers have access to 100,000 quality brand name and private label products and the company has annual retail sales of $4.85 billion. The cooperative was founded on January 1, 1964 by 122 independent hardware Dealers.

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For further information: Rob Wallace, Home Hardware Stores Limited, [phone], [email protected]