TORONTO, Nov. 8, 2023
/CNW/ - Meghan Roach, President and
Chief Executive Officer of global lifestyle brand Roots Corporation
(TSX: ROOT; the "Brand"), has been recognized as one of
Canada's Most Powerful CEOs by
Women's Executive Network ("WXN") as part of the 2023 Canada's Most
Powerful Women: Top 100 Awards. In addition, Ms. Roach has been
awarded the prestigious Fellow distinction (FCPA, FCA) by CPA
Ontario.
The Canada's Most Powerful CEOs
Award recognizes individuals who exemplify the attributes of a
powerful visionary with a strong foundational character, a sense of
integrity, and the ability to elicit public trust. The award is
open to publicly traded or privately owned companies, the public
sector, and not-for-profit organizations. The distinction of Fellow
(FCPA) formally recognizes CPAs who have rendered exceptional
service to the profession and in their communities. Issued by CPA
Ontario, becoming an FCPA is the highest honour a CPA can
receive.
"I am humbled to be recognized as one of Canada's Most Powerful CEOs by WXN. This award
is a testament to the incredible team at Roots, whose dedication,
innovation, and commitment to excellence have propelled us forward,
even in challenging times," said Meghan
Roach, Roots President and Chief Executive Officer. She
added, "It is an honour to receive the distinction of Fellow from
the Chartered Professional Accountants profession as it has been a
designation that has been instrumental to my career development and
professional growth."
Roach joined Roots as President and Chief Executive Officer in
January 2020 after a short period as
its interim Chief Financial Officer following her election to its
board of directors. She continues to serve on the Roots board and
previously served as a director from 2015 until the Roots IPO in
2017. Before Roots, Roach held various private equity and
finance roles in North America and
Europe at Searchlight Capital
Partners, Ontario Teachers' Pension Plan, and KPMG LLP. She has
held numerous board positions with public and private companies
globally. In addition to the Roots board, Roach currently acts as
Vice Chair for the Holland Bloorview Kids Rehabilitation Hospital
Foundation.
In addition to leading Roots through the unprecedented Covid-19
Pandemic, Roach has also overseen significant transformation and
innovation in essential operational areas in the business since
joining Roots as CEO. The meaningful advancement of ESG initiatives
at Roots, including joining the Fair Labour Association and moving
over 85% of its products to sustainable materials within the last
three years, has been a priority during her leadership. The Brand
has also significantly expanded its omnichannel capabilities,
enhancing the online customer experience and creating a seamless
omnichannel platform that includes the usage of stores as
fulfillment hubs and a single integrated distribution centre to
serve all channels.
Roots has continued its international expansion with a brand
relaunch in China as well as
online enhancements to facilitate local currency transactions
globally. Roach and her team have also been successful in
stabilizing the Roots financial position and enhancing gross margin
through promotional discipline, while maintaining the Brand's
commitment to quality. In line with its core value of community, in
February 2020, the Brand launched
Roots Cares, which oversees a diverse set of charitable initiatives
and has donated over $3 million in
cash and in-kind donations to organizations in the many communities
in which the company operates. "Meghan has brought strategic
insights, decisive leadership, financial rigour, and a growth
mindset to Roots," said Erol
Uzumeri, Chairman of the Roots Board of Directors. "On
behalf of the Board of Directors, we congratulate her on these
well-deserved recognitions."
Roach continues to lead the Roots team by balancing the Brand's
heritage with purpose and style to ensure Roots continued and
enduring relevance. In August 2023,
Roots celebrated its 50th Anniversary, a year-long celebration
coinciding with the relaunch of the Brand's heritage footwear
collection and collaborations with Barbie™ and Heather Cooper, the creator of Roots iconic
beaver logo. Tapping into the deep emotional connections the Brand
has built over the last 50 years, Roots will be pulling from its
rich archives for its limited-edition anniversary collections,
resurrecting past favourites all the way from the 70s, 80s, and
90s, and releasing future-forward designs that honour its rich
heritage as well as the Canadian environment that serves as a
consistent thread of inspiration. Throughout the year and until
July 2024, a carefully curated
assortment of must-have commemorative products with limited runs
alongside capsule collections will excite long-time Roots loyalists
and garner fanfare from a new consumer base. Roots will be
launching its first Asia-based
collaboration in November 2023.
ABOUT ROOTS
Established in 1973, Roots is a global lifestyle brand. Starting
from a small cabin in northern Canada, Roots has become a global brand with
over 100 corporate retail stores in Canada, two stores in the United States, and an eCommerce
platform, roots.com. We have more than 100 partner-operated
stores in Asia, and we also
operate a dedicated Roots-branded storefront
on Tmall.com in China.
We design, market, and sell a broad selection of products in
different departments, including women's men's, children's, and
gender-free apparel, leather goods, footwear, and accessories. Our
products are built with uncompromising comfort, quality, and style
that allows you to feel At Home With Nature™. We offer products
designed to meet life's everyday adventures and provide you with
the versatility to live your life to the fullest. We also wholesale
through business-to-business channels and license the brand to a
select group of licensees selling products to major retailers.
Roots Corporation is a Canadian corporation doing business as
"Roots" and "Roots Canada".
SOURCE Roots