VANCOUVER, May 26, 2014 /CNW/ - WesternOne Inc. ("WesternOne") (Toronto
Stock Exchange: WEQ, WEQ.DB and WEQ.DB.C) today announced that its
Board of Directors has appointed Peter Blake as Chief Executive
Officer, effective September 1, 2014. Mr. Blake will succeed Robert
King, who has acted as interim CEO since September 8, 2013. Mr. King
will continue in his role as Chairman of the Board.
Mr. Blake is currently Chief Executive Officer of Ritchie Bros.
Auctioneers Inc. ("Ritchie Bros."), a public company listed on the
Toronto Stock Exchange and New York Stock Exchange. As announced on
October 8, 2013, Mr. Blake is stepping down from Ritchie Bros.
"Peter brings extensive knowledge and experience of leading a highly
successful organization that has grown to a global scale and created
exceptional shareholder value. Under Peter's leadership Ritchie Bros.
has grown in 10 years from a $250 million market cap business to a $2.5
billion market cap business," says Mr. King. "Peter's credentials from
the construction and infrastructure background are ideally suited to
the WesternOne business. Our Board is confident that he is the right
CEO to lead this next exciting stage of growth for WesternOne."
"WesternOne has achieved a solid track record of growth and I'm excited
about the appointment," says Mr. Blake. "I look forward to working with
the leadership team when I join in September and driving future growth
together."
Mr. Blake joined Ritchie Bros. as a controller in 1991 and has assumed a
number of senior positions within the company. Since 2004, he has
served as Chief Executive Officer of Ritchie Bros. Mr. Blake is a
Fellow of the Institute of Chartered Accountants of British Columbia,
and has a Diploma of Technology from British Columbia Institute of
Technology and a Bachelor of Commerce degree from the University of
Alberta.
Forward-looking Information
Certain statements in this press release may constitute
"forward-looking" information that involves known and unknown risks,
uncertainties and other factors, and it may cause actual results,
performance or achievements or industry results, to be materially
different from any future results, performance or achievements or
industry results expressed or implied by such forward-looking
information. Forward-looking information is identified by the use of
terms and phrases such as "anticipate", "believe", "could", "estimate",
"expect", "intend", "may", "plan", "predict", "project", "will",
"would", and similar terms and phrases, including references to
assumptions. Such information includes, without limitation, statements
with respect to: the effective date of the appointment of Peter Blake
as Chief Executive Officer and WesternOne's future growth plans. Actual
events or results may differ materially.
Forward-looking information contained in this press release is based on
certain key expectations and assumptions made by WesternOne, including,
without limitation: the outlook of WesternOne's business and the
economy in Western Canada, the US and Australia, the supply and demand
for WesternOne's products and services and management's assessment of
future plans and operations. Although the forward-looking information
contained in this press release is based upon what the WesternOne's
management believes to be reasonable assumptions, WesternOne cannot
assure investors that actual results will be consistent with such
information. Forward-looking information reflects current expectations
of management regarding future events and operating performance as of
the date of this press release. Such information involves significant
risks and uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate
indications of whether or not such results will be achieved. A number
of factors could cause actual results to differ materially from the
results discussed in the forward-looking information, and a description
of these factors can be found under "Risk Factors" in WesternOne's
Annual Information Form dated March 28, 2014 and Management's
Discussion and Analysis dated May 14, 2014, which are available on
SEDAR (www.sedar.com).
The forward-looking information contained herein is expressly qualified
in its entirety by this cautionary statement. Forward-looking
information reflects management's current beliefs and is based on
information currently available to WesternOne. The forward-looking
information is made as of the date of this press release and WesternOne
assumes no obligation to update or revise such information to reflect
new events or circumstances, except as may be required by applicable
law.
About WesternOne
WesternOne seeks to acquire and grow businesses in the construction and
infrastructure services sectors in order to generate stable and growing
dividends to its shareholders and to achieve capital appreciation.
Additional Information
Additional information relating to WesternOne and other public filings
is available on SEDAR at www.sedar.com or on WesternOne's website at www.weq.ca.
Trading Symbols
Toronto Stock Exchange: WEQ, WEQ.DB and WEQ.DB.C
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
Backgrounder: Mr. Peter Blake
Peter James Blake was raised in Richmond, B.C. and earned his Diploma of
Technology at British Columbia Institute of Technology (BCIT) and
Bachelor of Commerce degree at the University of Alberta. He received
his Chartered Accountant designation while at KPMG Vancouver. Peter
joined Ritchie Bros. Auctioneers Inc. ("Ritchie Bros.") in 1991, and
has been the Chief Executive Officer of Ritchie Bros. since 2004.
Peter has been involved in several community organizations, including
West Point Grey Academy, BCIT and BC Women's Hospital foundation
boards. He has served as a Director of Accruit, LLC as well as the
Board of Directors of Ritchie Bros. He has also served as the co-chair
of the Cabinet for the Business Laureates of BC for Junior Achievement.
Peter supports local post-secondary students through yearly tuition
sponsorships via the Marion Stevenson Endowment Fund, which he and his
wife created to support student nurses at BCIT, and through the Cmolik
Foundation. He has also supported the BC Children's Hospital, and is an
ongoing supporter of Hannah's Heroes Foundation, Kidsport BC, and PALS
Autism School Society.
Peter has received recognition through the years, including the 2012
Distinguished Alumni Award from BCIT and in 2013 he was honoured with a
fellowship by the Institute of Chartered Accountants of British
Columbia (ICABC). The fellowship (FCA) designation is awarded to
chartered accountants for contributions to the community and service to
the profession.
He and his wife, Leslie, have two daughters and reside in the Lower
Mainland.
SOURCE WesternOne Inc.
Image with caption: "WesternOne Inc. Appoints Peter Blake as Chief Executive Officer, Effective September 1, 2014 (CNW Group/WesternOne Inc.)". Image available at: http://photos.newswire.ca/images/download/20140526_C9858_PHOTO_EN_40751.jpg
