After more than 70 years in the hardware business, Home Hardware co-founder and president Walter Hachborn is retiring. In the wake of that announcement, the St. Jacobs-based company made two changes to senior management.
Paul Straus, vice-President and CEO, was appointed president and CEO. Terry Davis, Home Hardware’s vice-president administration and strategic planning, was appointed executive vice-president and chief operating officer.
Hachborn, who will remain as president emeritus, originally began with Hollinger Hardware alongside Gordon Hollinger where the Home Hardware store now stands in downtown St. Jacobs. He purchased the business, transforming it into Home Hardware.
“Our senior managers have, on average, 35 years of tenure with the company,” explained spokesman Rob Wallace. “We’re confident that the company will continue to have success with the new leadership.”
Straus has worked for Home Hardware since its founding in 1964. Straus became vice-president controller in 1978, vice-president finance and administration in 1985 and was appointed executive vice-president and general manager in 1989. Ten years later he was appointed vice-president and chief executive officer.
“Home Hardware has been blessed with a strong management team and we have seen many successes with Paul at the helm. I’ve witnessed Paul as he has provided leadership, insight and knowledge, leading this company for 21 years, since 1989. I’m confident that he will continue to guide Home Hardware and our dealers to a bright future,” said Hachborn in a release.
Davis joined Home Hardware in 1970 and has held a number of management positions within the organization. He became data services manager in 1980, taking on a variety of information technology positions, including vice-president, through to 2007. For various periods from 1990 to 2000 Davis also held the positions of vice-president of marketing and vice-president for dealer development. In 2007 he became vice-president, administration and strategic planning.
The cooperative was founded on Jan. 1, 1964 by 122 independent hardware dealers. Now, the corporation is made up of 1,070 stores across Canada, under the Home Hardware, Home Building Centre, Home Hardware Building Centre and Home Furniture banners. Dealers have access to 100,000 brand name and private label products. The company has annual retail sales of $4.85 billion.