WINNIPEG - The North West Company Inc. (TSX: NWC), a prominent retailer serving rural and urban communities in various regions, announced today the resignation of Frank Coleman from its Board of Directors. Coleman, who has served on the Board since 1999, was due to retire in June 2024 as per the Company's mandatory retirement policy.
Coleman, also the President and CEO of the Coleman Group of Companies, stated personal reasons for his early departure, highlighting a desire to focus more on his business interests and other commitments. His resignation is not related to the operations or performance of North West.
"It has been an absolute privilege and honour," expressed Coleman regarding his tenure on the Board. In response, Brock Bulbuck, Chair of the Board of Directors, acknowledged Coleman's "valued contributions and commitment to the success of North West" and wished him well in his future endeavors.
The North West Company, with a history dating back to the late 18th century, operates 226 stores under various names including Northern, NorthMart, Giant Tiger, Alaska Commercial Company, Cost-U-Less, and RiteWay Food Markets. The company reported annualized sales of approximately CDN$2.4 billion.
North West's common shares are publicly traded on the Toronto Stock Exchange, and the company is known for providing food, products, and services to communities in Canada, Alaska, the South Pacific, and the Caribbean.
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