Did e-retail drive Canadian Tire shakeup?

MISSISSAUGA, Ont. — Concerns that it wasn’t keeping pace in the online market motivated Canadian Tire’s decision to oust CEO Michael Medline and bring back his predecessor Stephen Wetmore, a source has told the Globe and Mail. Desjardins Securities analyst Keith Howlett said that the board (and Wetmore, its deputy chairman) “likely disagreed with Mr. Medline over one/all of the following: (1) the appropriate digital strategy, (2) the pace of its implementation, or (3) the role of acquisitions in implementing the company’s digital strategy.” HARDLINES editor Michael McLarney told the Globe that Wetmore’s return might indicate a new strategic focus, where Medline had emphasised the customer experience. “Under Medline, Canadian Tire really reinforced its brand and really focused on merchandise, on being a better retailer,” he said. Wetmore will step down as deputy chairman but stay on as a director, the company has indicated.