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.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.