RONA Announces Changes to Board of Directors

RONA Announces Changes to Board of Directors 
Robert Chevrier Immediately Appointed as Executive Chairman of the
Board 
Eight New Board Members to Join RONA's Board in First Half of 2013  
Caisse de depot et placement du Quebec and Invesco Canada Ltd. to
Support Board Change 
BOUCHERVILLE, QUEBEC -- (Marketwire) -- 01/21/13 -- RONA inc.
(TSX:RON)(TSX:RON.PR.A), the largest distributor and retailer of
hardware, home renovation and gardening products in Canada, today
announced that it has entered into an agreement with two of its
largest shareholders, Caisse de depot et placement du Quebec and
Invesco Canada Ltd., providing for, among other things, several
changes to its Board of Directors. 
Robert Chevrier, FCA, Chairman and Director of UniSelect and, until
today, Chairman and Director of Richelieu Hardware, joins RONA's
Board as Executive Chairman, effective immediately. He replaces
Robert Pare, who steps down as Chairman but continues to serve as a
Board member.  
The agreement further contemplates that the following individuals
immediately join RONA's Board:  


 
--  Bernard Dorval, former Group Head of Insurance & Global Development at
    TD Bank Financial Group and Deputy Chair at TD Canada Trust; 
--  Wesley Voorheis, partner at Voorheis & Co. LLP and Managing Director, VC
    & Co. Incorporated; 
--  Guy Dufresne, Corporate Director and former President and Chief
    Executive Officer of ArcelorMittal Mines Canada Inc.; and 
--  Barry Gilbertson, principal with Barry Gilbertson Consultancy.

 
Alain Michel and Patrick Palerme resign from RONA's Board, effective
immediately, to allow for its reconfiguration.  
In addition, two other Board members, Mr. Steven Richardson and an
additional nominee, will be included in the Corporation's circular
for election at RONA's next annual general meeting of shareholders in
replacement of two current directors who will not stand for
re-election. The new Chief Executive Officer will also join the Board
on appointment in replacement of a current director. Under the
agreement, Caisse de depot et placement du Quebec and Invesco Canada
have indicated to RONA that they will support the election of the
Corporation's full slate of Director nominees at the next annual
general meeting of shareholders on May 14, 2013. As
 a result of the
foregoing changes, the total number of RONA directors will increase
from 12 to 14, eight of whom will be new directors. 
In commenting the changes, Mr. Pare said, "I am delighted to welcome
Robert Chevrier to the RONA Board. He is a seasoned corporate
director with tremendous industry experience, having served as CEO
and Chairman of Rexel Canada Electrical Inc. and Chairman and
Director of Richelieu Hardware. Robert has strong expertise in RONA's
main operating segments of retail, distribution and commercial and
professional. The Board is confident that he has the unique
experience required to lead the Board as the Company executes on its
strategic and financial priorities."  
Mr. Pare continued, "Robert, Bernard, Wesley, Guy and Barry
collectively bring a strong track record of operational, retail and
distribution success, along with significant leadership experience on
public company Boards. In addition to their expertise, they will
bring a more diverse geographic representation. This is a very
important moment for the Company as it focuses on achieving its full
potential. Finally, I would also like to thank Messrs Michel and
Palerme for their valuable insight and contribution to the Board
since their respective nominations." 
"I am honored to have been selected to lead RONA's Board," said
Robert Chevrier. "RONA rapidly built a Canadian leadership position
in its industry using a different model than its competitors. The
Corporation is now at a critical inflection point in its history
where it has to refocus on its core competencies to unlock value
built over the years for its shareholders, dealers-owners and other
stakeholders. I look forward to working with the Board and management
team to undertake this challenge and execute on RONA's strategic
plan.  
"On behalf of the Board I would like to thank Robert Pare for his
contributions and commitment to RONA in the past few years but
especially over the past year," added Mr. Chevrier. "Robert was
deeply involved in the Corporation's affairs since his nomination as
Chairman of the Board last May. RONA will continue to benefit from
Robert's vision and experience as a Board member."  
RONA also noted today that it has retained the services of a leading
global management consulting firm to accelerate progress on its
strategic priorities announced in December. RONA will provide a
detailed update, including specific action plans and key metrics, on
its fourth quarter earnings presentation on February 21, 2013. 
Furthermore, RONA also expects to be in a position to provide an
update on its process to recruit a new Chief Executive Officer before
the end February, 2013.  
Biographical Information Regarding Board Appointments 
Robert Chevrier (Montreal, Quebec; Age: 69) currently serves as
Chairman and Director of UniSelect, a leading network of
independently owned auto parts dealers in North America and is the
former Chairman and Director of Richelieu Hardware, a leading North
American distributor, importer and manufacturer of specialty hardware
and complementary products. He previously served as the Chief
Executive Officer and Chairman of Rexel Canada Electrical Inc.
(formerly Westburne Inc.) from November 1993 to January 2001 and as
its President. Mr. Chevrier had been the Chairman at Richelieu
Hardware Ltd. since March 2004. He is Chair of the Board of UniSelect
and serves on the Boards of CGI Group Inc., and Cascades Inc. A
chartered accountant, Mr. Chevrier earned his Bachelor's Degree from
Concordia University.  
Bernard Dorval (Toronto, Ontario; Age: 60) formerly served as Group
Head of Insurance & Global Development at TD Bank Financial Group and
Deputy Chair of TD Canada Trust. Over his tenure, he was responsible
for most of the businesses and support areas of TD Bank successively
leading Insurance, Investments and Trusts, Personal Lending, all
Retail Banking products, Business Banking, Corporate Strategy and
Global Development. Previously, Mr. Dorval served in a variety of
roles at Laurentian Group, most recently acting as CEO of the Life
Insurance sector. With a history of corporate directorship
experience, Mr. Dorval currently serves as Chair of the Board of TD
Insurance (Canada) and Chair of the Retirement Investment Committee
of TD Bank Financial Group. An actuary by background, Mr. Dorval
graduated from Quebec City's Laval University in 1973 and became a
Fellow Actuary in 1979.  
Wesley Voorheis (Toronto, Ontario; Age: 59) is currently a Partner of
Voorheis & Co. LLP and Managing Director of VC & Co. Incorporated,
which act as strategic advisors to institutional and other
shareholders. He is the Chairman of the Board of Granite Real Estate
Inc. and HudBay Minerals Inc. Prior to the establishment of Voorheis
& Co. LLP in 1995, Mr. Voorheis was a partner in a major Toronto law
firm. 
Barry Gilbertson (London, England; Age: 61) is an adviser with more
than 40 years' experience in property and construction, working with
organizations where property is material to their business. He is
currently a principal with Barry Gilbertson Consultancy. Between
September 1992 and April 2011, he was a member of (and partner since
October 1996) PricewaterhouseCoopers (pwc). Prior to that, Mr.
Gilbertson held executive p
ositions at Claridge Group plc (formerly
Portfolio Property Group plc), Cherrydeal Limited and Butler & Hatch
Waterman. 
Guy G. Dufresne (Montreal, Quebec ; Age: 71) is an engineer from
Ecole Polytechnique de Montreal and holds a masters degree of
engineering (including computers) from the Massachusetts Institute of
Technology and an MBA from the Harvard Business School. From 1992 to
2006, he was President and CEO of ArcelorMittal Mines Canada Inc.
(formerly Quebec Cartier Mining Company) and led the turnaround of
this iron ore company; for 25 years prior to 1992, he held
progressive senior positions within the forest product industry
including President and COO of Kruger. Since about 1980, Mr. Dufresne
has been a member of the board of several public and private
companies and he has worked on numerous committees; he is still a
member of the board of RSA Canada, an insurance company. Over the
years he has been Chairman of the board of Tembec, Cambior, Conseil
du Patronat, Chamber of Marine Commerce, The Mining Association of
Canada, The Quebec Forest Product Association and Institut
Armand-Frappier (a pharmaceutical research center).  
Steven P. Richardson (Toronto, Ontario; Age: 52) is a corporate
director. Between 2003 and 2009, Mr. Richardson acted in various
senior executive roles at Hudson's Bay Company (including Chief
Financial Officer between 2006 and 2009). Prior to that, Mr.
Richardson held senior executive positions at Wells Fargo Financial
Services of Canada, Associates Financial Services of Canada and
Beneficial Canada Inc.  
About RONA 
RONA is the largest Canadian distributor and retailer of hardware,
home renovation and gardening products. The Corporation operates a
network of over 800 corporate, franchise and affiliate retail stores
of various sizes and formats under different banners, and a network
of 14 hardware and construction materials distribution centres. RONA
is also a leader in the specialized plumbing and HVAC market,
primarily serving commercial and professional customers with a
network of close to 60 sales outlets and four distribution centres
across the country. With close to 30,000 employees, the RONA store
network generates consolidated sales of $4.8 billion. For more
information, please visit www.rona.ca.
Contacts:
Media
RONA inc.
Valerie Lamarre, Senior Advisor
Communications and Public Affairs
514-599-5900, ext. 5271
valerie.lamarre@rona.ca 
Financial Community
RONA inc.
Stephane Milot, Vice President
Finance and Investor Relations
514-599-5951
stephane.milot@rona.ca
 
 
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