Paul Rivett on the board of The Brick + CEO Change

[lessthaniv]

Bill Gregson is taking over as CEO (President + COO of Forzani). Paul Rivett gets a board seat.

 

 

Brick Group names Gregson CEO, Rivett trustee

 

 

2009-07-10 14:48 ET - News Release

 

Mr. Ron Barbaro reports

 

THE BRICK GROUP INCOME FUND APPOINTS NEW CHIEF EXECUTIVE OFFICER AND TRUSTEE

 

Brick Group Income Fund has named Bill Gregson president and chief executive officer of Brick, effective immediately.

 

Mr. Gregson, a chartered accountant by training, has a long and distinguished record of over 25 years in retail operations. Most recently he consulted for Reebok United States. Prior to that, Mr. Gregson was the president and chief operating officer of the Forzani Group, where he worked for over 10 years. He joined Forzani at a time when it was losing money and he helped lead a successful turnaround of the company into a highly profitable and substantially larger and dominant retailer.

 

"Mr. Gregson is a seasoned executive with extensive operational experience in the retail industry. He has an outstanding track record of both protecting and creating value and the board of trustees unanimously determined that he is the ideal person to address the challenges and opportunities Brick faces in the current environment. The board and management are looking forward to working with Bill to continue to improve our existing liquidity, take us through the current difficult retail environment, and ultimately build an even stronger and more successful company," said Ron D. Barbaro, chairman of the board.

 

"On behalf of the board of trustees, I would like to thank Kim Yost for his leadership and important contributions in a variety of roles over his many years with Brick, particularly since our initial public offering. Kim is a superb retailer and dedicated friend of Brick and we wish him all the best as he pursues his next challenge," said Mr. Barbaro.

 

Brick also announces that Paul Rivett, chief operating officer of Hamblin Watsa Investment Counsel, and vice-president and chief legal officer of Fairfax Financial Holdings, a major unitholder of Brick, has joined Brick's board of trustees.

 

We seek Safe Harbor.

 

[alertmeipp]

Very good news I think.