January 2, 2020
Boyd Group Services Inc. appoints Tim O’Day as President & CEO
Not for distribution to U.S. newswire services or for dissemination in the United States.
Winnipeg, Manitoba – January 2, 2020 – Boyd Group Services Inc. (TSX: BYD) (“BGSI”, “the Boyd Group” or “Boyd”) is pleased to announce that it has appointed Tim O’Day as President & CEO of Boyd Group Services Inc. This appointment is pursuant to a previously announced CEO succession plan. Also pursuant to this CEO succession plan, concurrent with this change, Brock Bulbuck has moved into the role of Executive Chair.
“Tim has played a key role in the Boyd Group’s growth and success since joining us in 2004 and is well positioned to become the CEO, which will see him guide the company through its next phase of growth and development,” said Al Davis, Boyd’s Independent Chair of the Board. “Additionally, we look forward to Brock moving into the Executive Chair role to support Tim and provide for a seamless transition.”
Mr. O’Day joined Gerber Collision & Glass in February 1998 and, with Boyd Group’s acquisition of Gerber in 2004, he was appointed Chief Operating Officer for Boyd’s U.S Operations. In 2008, he was appointed President and Chief Operating Officer for U.S. Operations. In 2017, he was appointed President and Chief Operating Officer, with company-wide operating oversight, responsibility and influence. Before joining Gerber, he was with Midas International, where he was elevated to Vice President, Western Division, and responsible for a territory that encompassed 500 Midas locations. He holds a Bachelor’s degree in Business & Accounting from Michigan State University.
“I am very pleased and excited to be taking on this role,” added Mr. O’Day. “Our opportunities at Boyd continue to be tremendous, and I look forward to leading the company with Brock’s continuing support.”
About Boyd Group Services Inc.
Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. Boyd Group Services Inc. shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at http://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 (http://www.boydautobody.com) and Assured Automotive (http://www.assuredauto.ca) as well as in the U.S. under the trade name Gerber Collision & Glass (http://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 (http://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: dependence upon The Boyd Group Inc. and its Subsidiaries; operational performance; acquisition risk; employee relations and staffing; foreign currency risk; loss of key customers; decline in number of insurance claims; brand management and reputation; margin pressure; market environment change; reliance on technology; weather conditions; low capture rates; competition; access to capital; dependence on key personnel; tax position risk; quality of corporate governance; economic downturn; increased government regulation and tax risk; interest rates; environmental, health and safety risk; fluctuations in operating results and seasonality; U.S. health care costs and workers compensation claims; energy costs; risk of litigation; execution on new strategies; operating hazards; insurance risk; cash distributions not guaranteed; unitholder limited liability is subject to contractual and statutory assurances that may have some enforcement risks; and the Boyd Group’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 the Fund’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.