Andrew Iacobucci Appointed Chief Executive Officer of RONA inc.
RONA inc. has announced the appointment of Andrew Iacobucci to the role of Chief Executive Officer. Andrew’s nomination will become effective in July, and Garry Senecal, who occupied the role of Interim CEO, has agreed to stay with RONA until the end of the year to ensure a smooth transition.
With close to 30 years of experience, of which over 20 have been spent leading teams and executing strategic projects in retail and food distribution, Andrew brings a unique set of skills that will support RONA’s long-term profitability and success. He has an acute understanding of how to successfully operate complex organizations that combine large multi-format stores and a strong dealer network, all operating within large distribution systems. Prior to joining RONA, Andrew was executive vice president and chief commercial officer at US Foods, a leading US food distribution company. In addition, he has held key executive positions in large scale retail distribution organizations across Canada and the United States.
Andrew will be residing in the Boucherville area, where he will work at the head office alongside the other members of RONA’s Senior Leadership Team. Andrew had the chance to learn French during his studies and, by the time his nomination becomes effective, he will have completed a four-week immersion with a language school in Québec City to better interact with employees and customers.
Rona Inc. Launches the Brand-New Rona+ Banner
RONA has announced the beginning of the Lowe’s stores’ conversion to the RONA banner, an iconic brand that has served communities across the country since its founding in Québec in 1939. The conversions will start at the end of July 2023 and will take place over several months. The first ten Lowe’s stores to be converted, all located in Ontario, are the following:
- Lowe’s Ancaster
- Lowe’s Brantford
- Lowe’s Cambridge
- Lowe’s Hamilton
- Lowe’s Kitchener
- Lowe’s Niagara Falls
- Lowe’s Sarnia
- Lowe’s Waterloo
- Lowe’s Windsor
- Lowe’s Windsor East
All Lowe’s stores that will be converted, will bear the brand-new RONA+ banner. “This is an important step in our vision for the future of RONA,” explained Catherine Laporte, vice-president, marketing at RONA inc. “With these conversions, we are making a significant investment and renewing our commitment to the RONA brand. The new RONA+ banner is the first step in a wider plan aimed at redefining how Canadians shop for home improvement, creating new opportunities to improve how we serve them.”
RONA’s priority during this transition is to provide the best possible experience for their home improvement DIY and contractor customers. Employees will continue to serve them with the same passion and expertise. All converted stores will remain open during the conversions, guarantees offered by Lowe’s will be honoured, gift cards will still be accepted and private brands will remain in the stores’ offering. RONA will also continue to maintain its commitment to Canadian vendors and its affiliated dealer network, who are a key component of the company’s vision.
Source: RONA Inc.
RONA Inc. Eliminating 500 Jobs Across Canada
RONA Inc. says it’s eliminating 500 jobs across Canada in a bid to simplify its organizational structure. The retailer says in a press release that it needed to adapt to reflect new market realities amid a slowing economy.
The Canadian economy has been showing some signs of weakness amid higher interest rates as the central bank seeks to quell inflation. However, GDP grew at an annualized rate of 3.1% in the first quarter, beating expectations. The Canadian consumer has proven resilient amid tightening conditions, with household spending helping to buoy the economy’s growth in the first quarter.
In November, Lowe’s announced it was selling its Canadian retail business, including RONA, to New York-based private equity firm Sycamore Partners. RONA says it operates or services around 425 corporate and affiliated stores under different banners across the country. It says it has 22,000 employees. The company says decisions like these are never taken lightly, and it will support affected employees throughout the transition.