Former Chrysler executive Steven Landry has been appointed CEO of AutoCanada Inc., effective April 1, 2016.
The news came after the franchised dealership group announced a net loss of $7.4-million in the fourth quarter.
“I very much look forward to joining AutoCanada, a company that I have much admired, and I look forward to putting my experience to work building upon the great success of Pat and his team with a continued focus on long-term shareholder value. I am very excited to lead AutoCanada into its second decade,” said Landry, in a written release.
Landry spent 27 years at the Chrysler Group where he held various global and executive positions including President and CEO of DaimlerChrysler Canada, President of Chrysler Europe and Executive Vice-President of North America at Chrysler LLC.
Most recently, Landry was the Chief Development Officer for ATCO Ltd. & Canadian Utilities Ltd. in Calgary.
The company also announced a number of executive changes as part of its succession plan.
AutoCanada founder Pat Priestner will be stepping down from his role as executive chair in May. He will assume the role of non-executive Chair of the Board of Directors, with a plan to retire from the company next year.
Steve Rose will also be retiring from his role as COO effective Oct. 1, 2016, said the company. Tom Orysiuk will continue to operate as President.
In AutoCanada’s Q4 earnings release, Orysiuk spoke to the challenges the company was facing, particularly at its dealerships in Alberta.
“We are continuing to closely monitor the macroeconomic environment in our key markets, and specifically Alberta, and present indications suggests that fiscal 2016 will be more challenging than last year,” said Orysiuk.
