October 28, 2022
Boyd Group Services Inc. Announces New Chief Operating Officer for Collision Business
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Winnipeg, Manitoba – October 28, 2022 – Boyd Group Services Inc. (TSX: BYD) (“BGSI”, “Boyd”, or “the Boyd Group”) is pleased to announce the appointment of Brian Kaner as Executive Vice President and Chief Operating Officer for the Boyd Group’s collision business, effective October 31, 2022. In this role, Mr. Kaner will have responsibility for Boyd’s collision operations in both the United States and Canada.
“This change to our top-level structure is being made to add further strength to our executive team and to align our organization with the needs of the business, given our planned growth and the changes we have experienced over recent years,” said Timothy O’Day, President and Chief Executive Officer of the Boyd Group. “Brian’s experience with large organizations as an executive officer in both operational and financial roles will be an asset to our business, adding breadth and depth of experience and knowledge at the executive level.”
“I look forward to working closely with Brian and the rest of the executive team over the next several years, as we continue to grow our business, with the goal of doubling the size of the business over the five year period from 2021 to 2025, based on 2019 revenues,” added Mr. O’Day. “At this time, the previously announced search to succeed Mr. Pat Pathipati in the role of Executive Vice President and Chief Financial Officer is proceeding along planned timelines and will be announced upon its conclusion.”
Mr. Kaner was previously CEO & President of Pep Boys & Icahn Automotive Services where he led all functional disciplines and field leadership teams overseeing 1,000 company owned and nearly 800 franchise locations. Before joining Icahn Enterprises L.P., Mr. Kaner worked for Sears Holdings Corporation as President of Sears Auto Centers. He holds a Bachelor’s degree in Accounting from Illinois State University.
“I am very excited to be taking on this new role,” added Mr. Kaner. “The opportunity to learn and add value at a company with a long track record of consistent performance and growth is a tremendous one. I look forward to working with Tim and the rest of the executive team as we continue growing the business and creating value for our shareholders.”
About Boyd Group Services Inc.
Boyd Group Services Inc. (“BGSI”) is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. BGSI shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD.TO. For more information on The Boyd Group Inc. or BGSI, please visit our website at https://www.boydgroup.com.
About The Boyd Group Inc.
The Boyd Group Inc. (the “Company”) is one of the largest operators of non-franchised collision repair centres in North America in terms of number of locations and sales. The Company operates locations in Canada under the trade names Boyd Autobody & Glass (https://www.boydautobody.com) and Assured Automotive (https://www.assuredauto.ca) as well as in the U.S. under the trade name Gerber Collision & Glass (https://www.gerbercollision.com). In addition, the Company is a major retail auto glass operator in the U.S. with operations under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. The Company also operates a third party administrator, Gerber National Claims Services (“GNCS”), that offers glass, emergency roadside and first notice of loss services. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at (https://www.boydgroup.com).
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Caution concerning forward-looking statements
Statements made in this press release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words like “may”, “will”, “anticipate”, “estimate”, “expect”, “intend”, or “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on such statements, as actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include, but are not limited to: employee relations and staffing; margin pressure and sales mix changes; supply chain risk; pandemic risk & economic downturn; acquisition risk; operational performance; brand management and reputation; market environment change; reliance on technology; changes in client relationships; decline in number of insurance claims; environmental, health and safety risk; climate change and weather conditions; competition; access to capital; dependence on key personnel; tax position risk; corporate governance; increased government regulation and tax risk; fluctuations in operating results and seasonality; risk of litigation; execution on new strategies; insurance risk; interest rates; U.S. health care costs and workers compensation claims; foreign currency risk; low capture rates; capital expenditures; and energy costs and BGSI’s success in anticipating and managing the foregoing risks.
We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the “Risk Factors” section of BGSI’s Annual Information Form, the “Risks and Uncertainties” and other sections of our Management’s Discussion and Analysis of Operating Results and Financial Position and our other periodic filings with Canadian securities regulatory authorities. All forward-looking statements presented herein should be considered in conjunction with such filings.