Canadian Tire has dropped CEO Michael Medline, who had been in the role since 2014, and returned Stephen Wetmore to the post.
In a surprise move, the head of one of Canada's biggest retailers, Canadian Tire, is leaving the top job after less than two years.
Canadian Tire Corp. announced Wednesday that president and CEO Michael Medline is being replaced by his predecessor, Stephen Wetmore. The shakeup is effective immediately.
The newly-reinstated Wetmore will step down as deputy chairman of the board, but will stay on as a director at the company.
"The board of directors has given me a clear mandate to take our iconic brand to the next level," he said in a statement, adding that the retailer needs to continue to "rapidly evolve" to meet customers' and shareholders' expectations.
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