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Toromont Names New Executive Vice President and CFO

Dec. 21, 2019
Toromont Industries Ltd. announced the appointment of Michael McMillan as executive vice president and chief financial officer, effective March 1, 2020.

Toromont Industries Ltd. announced the appointment of Michael McMillan as executive vice president and chief financial officer, effective March 1, 2020. This appointment follows the May 19, 2019 announcement of the pending retirement of Paul Jewer, Toromont’s current executive vice president and CFO. Jewer has agreed to stay on with Toromont following the appointment of McMillan to assist in the succession of the CFO role, and other strategic initiatives.

McMillan is an accomplished CFO with more than 25 years of financial experience, including: controllership, planning, mergers and acquisitions, and investor relations. He also brings a strong capital market and risk management background. Most recently, he served as senior vice president and CFO of Parkland Fuel Corp. There, he was a key member of its executive management team during a period of significant strategic growth. McMillan is also a chartered professional accountant and holds an MBA from the University of Calgary.

“We are very pleased to welcome Michael to Toromont,” said Scott Medhurst, president and CEO. “Michael is a proven business leader with strong strategic acumen, financial expertise and operational focus. He will be a valued member of our team as we continue to execute on our long-term strategy.

“We extend our deep gratitude to Paul for his dedicated service and contributions as executive vice president and chief financial officer over the past 14 years. Paul has had a distinguished career providing critical stewardship as the company was transformed by some of the largest strategic events in Toromont’s history. Paul played a key role in the 2011 bifurcation of Enerflex Systems Ltd. and the 2017 acquisition of the Caterpillar territories in Quebec and the Maritimes.”

Over the years, the financial industry has recognized Jewer’s contributions consistently ranking him as one of Canada’s top CFOs. 

Toromont’s equipment division is one of the world’s largest Caterpillar dealers and owns Battlefield Equipment Rentals, one of Canada’s largest equipment rental companies.