Changes are happening at Uni-Select as the company has added a new member to it board of directors, while naming a new head in its U.K. business.
Pierre Raymond is the newest member of the board and Neil Croxson will replace the retiring Peter Sephton to be the new president and chief operating officer of The Parts Alliance.
A lawyer and former chairman of business law firm Stikeman Elliot from 2006-2012, Raymond’s background includes public and private mergers, acquisitions and securities. His addition brings Uni-Select’s board up to 10 members. The company has undergone a board renewal process with half of its members joining since May 2017.
“As we progress with the strategic alternatives review, Pierre’s extensive depth of experience in advising public companies will complement our board expertise and bring an additional insightful perspective to our strategy,” said Michelle Cormier, board chairwoman.
Croxson, meanwhile, served as chief financial officer of The Parts Alliance since he joined in 2015. He will work closely with Sephton during a three-month transition period.
“I wish to thank Peter for building The Parts Alliance into a formidable force and market leader in the U.K. auto parts distribution industry and help us grow the business further after Uni-Select acquired it in 2017. We are glad that Peter will continue to work with us as a special advisor and represent our interests in associated trade bodies, such as Nexus International,” said André Courville, interim president and CEO of Uni-Select, in an announcement.
Sephton thanked his colleagues and wished Croxson the best in a statement.
“I am honoured to be taking on this new role,” Croxson said. “We had an excellent performance during our first full year under the Uni-Select umbrella, and under Peter’s leadership, we implemented strong foundations to enable us to capture future market opportunities. I look forward to building on this momentum.”
An interim CFO will be named to serve in the role until a permanent replacement is found.