Boyd Group Announces New CEO
Boyd Group recently announced its CEO succession plan, according to which, current President and Chief Operating Officer (“COO”) Tim O’Day will take up the role of CEO in 2020.
O’Day will be taking over from current CEO Brock Bulbuck, who will be moving into an Executive Chair role. O’Day will serve as the President and CEO of the Group from January 2, 2020. Current key management personnel will take over O’Day’s COO responsibilities after his promotion.
“Tim has played an integral role in the Boyd Group’s growth and success since joining us as COO U.S. Operations in 2004 in conjunction with the acquisition of Gerber Collision. It is my intent to start to slow down as I enter my 60’s, and having Tim ready to step in to lead the company has made my decision, including timing, much easier,” says Bulbuck. “Also, with the Fund tracking well to achieve its goal to double its size in terms of constant currency revenue from 2015 to 2020, the timing will also be right to transition to Tim, so that he can prepare to lead the company through its next phase of growth. I look forward to my new role supporting Tim in his transition to CEO as well as continuing my role on the Board.”
“The Board and I believe that Tim is uniquely qualified to guide our company through its next phase of growth and development, while maintaining the principles and philosophies that have worked so well for the Boyd Group over the last 10 plus years,” adds Allan Davis, Independent Chair of the Board of Trustees of Boyd Income Fund. “As the Board went through a formal process to plan for CEO succession, it was clear that Tim was the best candidate for the role, and that he was ready and motivated to take his career to this next level. We also believe that the continuity of leadership that will be achieved with Brock moving to Executive Chair to support Tim will provide for a seamless transition.”
O’Day became a part of Gerber Collision & Glass in 1998. After the acquisition of the company by Boyd Group in 2004, he was promoted to the position of appointed Chief Operating Officer of Boyd’s U.S. Operations. He took over as President and Chief Operating Officer for U.S. Operations in 2008. In 2017, O’Day became the President and Chief Operating Officer for all of Boyd’s operations in both Canada and the U.S. Since 2012, he has also been a part of the Board of Trustees of Boyd Group Income Fund. O’Day is also serving as the Chair of the Board of I-CAR at present.
“I am honoured that the Board has selected me as Boyd’s next CEO and I am extremely excited for our future,” says Mr. O’Day. “We continue to execute against a solid business strategy supported by an excellent long-tenured leadership team that has delivered outstanding results over the past several years. This leadership team, combined with Brock’s continuing support as Executive Chair, will provide for a smooth transition and will continue to position Boyd well for the future.”