Boyden is pleased to share the appointment news of Kim Yost
SASKATOON, Saskatchewan October 24, 2019
Former Art Van CEO Kim Yost is joining Mega Group here as president and CEO. Yost will take the lead Nov. 20, replacing Benoit Simard, who announced his retirement from the Canadian furniture, electronics and appliance buying group in April. Yost plans to relocate to the Montreal area and work out of the group’s Boucherville office.
“Mr. Yost is an accomplished North American retail industry business leader who has consistently delivered innovation and performance improvements,” Mega chairman Richard Wall said in a letter to members. “He has a history of achieving business goals through his ability to assess the reality of the current business coupled with the vision to see its potential.”
An industry veteran, Yost was president and CEO of Warren, Mich.-based Art Van from October 2009 to June 2018. There, he led the Top 100 company during its most aggressive growth years, starting when the retailer was generating $385 million in annual sales and leaving when it was approaching $1.1 billion in annual sales, including sales at its acquired retail banners Wolf Furniture and Levin Furniture, according to Furniture Today’s Top 100 reports.
Before joining Art Van, he was with The Brick Group from 1997 to 2009, the last five years as president and CEO, responsible for the day-to-day operations of the $1.6 billion business.
The member-owned Mega Group is a buying group established in 1965 with 713 members, and more than 800 stores generating more than C$2 billion in annual retail sales in all categories. Retail banners are BrandSource, BrandSource Home Furnishings, Ameublement BrandSource and Sleep Experience.
“Kim Yost has more than three decades of recognition for extraordinary achievements and business success that come from proven leadership, customer focus, strong financial acumen and intense focus on aligning an organization against a vision,” Wall said in the letter.
“He has had consistent success in acquiring and developing top-tier human capital, managing large scale complex financial models and approving initiatives with risk that challenge the status quo. He fundamentally believes in building outward looking business strategies that equate customer service excellence with attaining retail market leadership positions.”
Wall added that Yost “is an effective agent of process change and continuous improvement with in-depth knowledge of sales, marketing, merchandising, business development, finance, human resources, information technology and supply chain.”
His appointment follows a “diligent executive search” that followed Simard’s notice. “The board believes that, although we will miss Benoit’s leadership, this is a great opportunity for Mega Group to be associated with a new CEO who will bring such a great set of skills and successful business experiences,” Wall said. “We are committed to Mega’s evolution and are confident that we have found the right leader that will continue to deliver on the success of our strategic plan.”
In a statement, Yost said, “I am excited to be joining a winning team with a proven track record of 50 years. Returning to Canada is also dear to me, where the independent channel is well-poised to seize new opportunities as retailers recognize the need for transformation, creativity and innovation.”
Original Source: Furniture Today News
