EDMONTON, AB, June 4, 2024
/CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX:
ACQ), a multi-location North American automobile dealership group,
announced today that Azim Lalani has
resigned from his position as Chief Financial Officer for personal
reasons effective June 30, 2024, and
will be relocating back to Vancouver. Azim will continue to be available
to the Company for six months after the effective date to assist
with the transition. Samuel Cochrane
will be appointed as the new Chief Financial Officer effective on
June 30, 2024.
"Azim has been a valued member of our team and we want to thank
him for his leadership in implementing various key initiatives,
strong financial stewardship and dedication to AutoCanada, its
employees and shareholders. We wish him the best in his future
endeavors," said Paul Antony,
Executive Chair of the Company. "While we will miss Azim, we are
excited to welcome Sam to our team. Sam's proven experience in
driving business transformations and process improvements will be
instrumental for AutoCanada as we execute on our Project Elevate
initiatives."
Sam is a highly experienced financial executive, most recently
serving as Chief Financial Officer of Telit Cinterion, an IoT
solutions provider. Sam previously played key roles in creating
shareholder value as Chief Financial Officer at Sierra Wireless
(NASDAQ:SWIR, TSX:SW), an IoT solutions provider, and as Chief
Financial Officer at Avigilon (TSX:AVO), a video surveillance and
analytics company. Sam's tenure at Sierra Wireless culminated in
the acquisition of Sierra Wireless by Semtech for a 4.5x equity
return for shareholders from 2020 to 2023. Sam articled with Price
Waterhouse Coopers LLP and is a Chartered Accountant.
About AutoCanada
AutoCanada is a leading North American multi-location automobile
dealership group currently operating 84 franchised dealerships,
comprised of 28 brands, in eight provinces in Canada as well as a group in Illinois, USA. AutoCanada currently sells
Acura, Alfa Romeo, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge,
FIAT, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Lincoln, Mazda, Mercedes-Benz, MINI, Nissan,
Porsche, Ram, Subaru, Toyota, Volkswagen, and Volvo branded
vehicles. In addition, AutoCanada's Canadian Operations segment
currently operates 3 used vehicle dealerships and 1 used vehicle
auction business supporting the Used Digital Retail Division, 13
RightRide division locations, and 11 stand-alone collision centres
within our group of 27 collision centres. In 2023, the Company
generated revenue in excess of $6
billion and our dealerships sold over 100,000 retail
vehicles.
Additional Information
Additional information about AutoCanada is available at the
Company's website at www.autocan.ca and www.sedarplus.ca.
SOURCE AutoCanada Inc.