Toromont Industries Ltd., one of the world’s largest Caterpillar dealers, announced that Scott Medhurst, president and CEO, has advised the company’s board of directors that he intends to retire within the next 12 to 18 months after a successful 34-year career with Toromont, the last 10 years as president and CEO. In addition to providing a lengthy notice period, Medhurst has agreed to assist in the transition and act as an advisor to the next president and CEO.
Under Medhurt’s leadership, Toromont has assembled a strong team of executives who have led the corporation to growth and profitability through strong customer and stakeholder focus. In 2017, the Toromont team completed the acquisition of the Caterpillar dealership in Eastern Canada and its successful integration leading to shareholder value. Medhurst has helped Toromont develop seasoned executives in key roles as well as a dedicated workforce and is positioned well for the future.
A special committee of the Toromont board has been created to address an orderly transition.
Toromont Industries Ltd. operates through two business segments: The Equipment Group and CIMCO. The Equipment Group includes one of the larger Caterpillar dealerships by revenue and geographic territory - spanning the Canadian provinces of Newfoundland & Labrador, Nova Scotia, New Brunswick, Prince Edward Island, Québec, Ontario and Manitoba in addition to most of the territory of Nunavut. The group includes major rental operations, a complementary material handling business and an agricultural equipment business. Toromont Cat is No. 13 on the RER 100.
