CITY OF COMMERCE, Calif. — Former Dollarama Inc. executive Stéphane Gonthier has been named president and chief executive officer at 99¢ Only Stores. He will also serve as a member of the company’s board of directors.
Former Dollarama Inc. executive Stéphane Gonthier has been named president and chief executive officer at 99¢ Only Stores. He will also serve as a member of the company’s board of directors.
The appointment of Gonthier, who 99¢ Only Stores executives say was chosen after an extensive search to replace interim CEO Richard Anicetti, is expected to become effective by mid-October.
Anicetti will continue to be involved with the company as a board member.
"The growth of 99¢ Only Stores has been outstanding for the past several quarters, and we are excited to bring on Stéphane as our president and CEO to help us capitalize on our recent accomplishments and guide the company toward long-term success as a leader in the extreme-value category," chairman David Kaplan says.
Executives say Gonthier was selected to head the 326-store chain because of his deep operational experience and track record of growing companies in the retail sector.
He brings more than 15 years of experience in value-oriented retail. Most recently he served since September 2007 as chief operating officer at 800-unit Dollarama, one of Canada’s largest dollar store chains.
From 1998 until 2007 he held various executive positions at Alimentation Couche-Tard Inc., a global convenience store chain best known as the operator of the Circle K stores in the United States.
Previously Gonthier was the company’s senior vice president for Eastern North America, where he was responsible for four divisions consisting of approximately 2,600 convenience stores in Canada and the United States.