Uni-Select, the Canadian parent company of the Parts Alliance in the UK has announced that Brent Windom has decided to retire from his role as President and Chief Executive Officer and President and COO, Canadian Automotive Group, effective June 30, 2021 as well as a member of the Board of Directors. Brian McManus was appointed as his successor and will hold the dual role of Executive Chair and CEO of Uni-Select Inc.
[caption id="attachment_27253" align="alignright" width="300"] Brent Windom[/caption]
“Given Brent’s decision, the Board determined that it would be a natural fit for Brian to take on the day‑to‑day operations of Uni-Select as CEO. We are very pleased that he decided to accept this additional role. To ensure a smooth transition, Brent has agreed to stay on as a consultant for a period of two years,” said Michelle Cormier, Lead Director of Uni-Select Inc.
The news comes days after the group secured a refinancing package, valued in total at $565m, although there is no suggestion of any connection between the two.
READ: THE ALLIANCE IS SET TO GROW
Under the new credit facilities, which replace the current arrangements, the corporation now has access to approximately $220m of liquidity to navigate through the pandemic, if needed.
The total package consists of a US$350 million revolving credit facility and US$215 million term facilities. The new credit facilities can be used for general corporate purposes, thereby providing additional liquidity and flexibility, if required.
Is this linked to Neil Croxson leaving the PA? It does seem increasingly like the PA here in the UK is a real basket case. The first of the big three 'wanabee' nationals to go perhaps?