May 7, 2023
Toromont Industries, Toronto, will appoint Michael McMillan as president and CEO. He will replace Scott Medhurst, who is retiring after 35 years with Toromont.
“Following an orderly and comprehensive search process, the board of directors of Toromont unanimously concluded that Mr. McMillan is the ideal candidate to succeed Mr. Medhurst,” said Richard Roy, chairman of the board, Toromont Industries. “Mr. McMillan joined Toromont in 2020 as executive vice president and chief financial officer [CFO], bringing a proven track record for leadership and disciplined execution. He has been a critical partner to Mr. Medhurst and the entire Toromont team, helping to successfully navigate Toromont through these unprecedented recent years. We are confident that Mr. McMillan is the right person to drive continued success for Toromont’s business and stakeholders.”
A search for McMillan’s successor as CFO is underway and the effective date of his appointment to CEO will be made at a later date, along with the CFO appointment. Until then, Medhurst will continue as CEO while he and McMillan prepare for the transition. Following McMillan’s appointment as CEO, Medhurst will stay on as his advisor to help in a smooth changeover, the company says.
