The board of directors of Toromont Industries has appointed Cathryn Cranston and Katherine Rethy independent directors, effective immediately.
"We are extremely pleased to have Ms. Cranston and Ms. Rethy join the board of directors to contribute their talent and experience to our board," said Robert Ogilvie, Toromont chairman. "Ms. Cranston brings substantial finance and accounting acumen while Ms. Rethy has extensive experience in leadership development and operational issues. Both also have risk management experience."
The additions of Cranston and Rethy bring the company's board of directors to nine members, seven of whom are independent.
Cranston is currently the senior vice president, finance and treasurer, BMO Financial Group. Cranston has had a progressive 27-year career with the Bank of Montreal, moving successfully through a series of roles including corporate banking, capital markets, risk management, asset management, and as a divisional chief financial officer in the private client group and corporate treasurer.
Rethy is currently president of KAR Development Corp., her own leadership development and consulting company. Prior to this, she held a series of progressively more senior roles at Noranda/Falconbridge, most recently as senior vice president, global services (including procurement, supply chain, risk management, insurance, information systems and facilities). Prior to joining Noranda, Rethy was an executive with Dupont Canada.
Toronto-based Toromont operates CIMCO, a freight shipping and trucking company as well as a refrigeration business. Its Equipment Group includes Battlefield Equipment Rentals, which is No. 21 on the RER 100.