TORONTO, ON--(Marketwired - March 15, 2017) - ECN Capital Corp. (TSX: ECN) ("ECN Capital" or the "Company"), one of North America's leading commercial finance companies, today announced the appointment of Grier Colter as Chief Financial Officer, succeeding Michel Béland.
Mr. Colter, 43, initially joined ECN Capital as Executive Vice President, Finance in January 2017, bringing over 20 years of finance experience.
Most notably, prior to joining ECN Capital, Mr. Colter served as Vice President and Treasurer of Canadian Tire Corp., where he oversaw treasury, corporate finance and taxation for all business divisions, including Canadian Tire Bank. In that role, he was responsible for a large debt portfolio and the corporation's securitization programs.
Prior to that, Mr. Colter served in senior level positions at large publicly traded and private Canadian corporations. Mr. Colter earned his Chartered Accountant designation with Ernst & Young LLP.
In conjunction with Mr. Colter's appointment, Mr. Béland has announced his retirement from ECN Capital. Mr. Béland, 64, served as CFO of Element Financial Corp. from 2011. He oversaw the landmark separation transaction that created ECN Capital and Element Fleet Management Corp. as standalone companies, and moved to ECN Capital following that separation.
"Grier brings experience, energy and insights that are very valuable to the ECN Capital team as we prepare for the next stage in our evolution, and I'm excited to be working with him," said Steven K. Hudson, ECN Capital's Chief Executive Officer. "That said, it's a bittersweet feeling making this announcement. Michel and I have been business partners for 25 years, and his counsel has been vital to my team's successes over that span. So I'm happy to say that, as much as he deserves a well-earned retirement, I know I can reach out to him for advice."
About ECN Capital Corp.
With total owned and managed assets of more than $7.5 billion, ECN Capital Corp. (TSX: ECN) is one of North America's leading equipment finance companies. ECN Capital operates across North America in three verticals of the equipment finance market (Rail Finance, Commercial & Vendor Finance, and Commercial Aviation Finance).
This release includes forward-looking statements regarding ECN Capital and its business. Such statements are based on the current expectations and views of future events of ECN Capital's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward- looking statements, including the future financial and operating performance of ECN Capital, the strategic advantages, business plans and future opportunities of ECN Capital and the ability of ECN Capital to access adequate funding sources, identify and execute on acquisition opportunities and transition to an asset management business. The forward- looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting ECN Capital, including risks regarding the equipment finance industry, economic factors, and many other factors beyond the control of ECN Capital. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. A discussion of the material risks and assumptions associated with this outlook can be found in ECN Capital's 2016 MD&A and Alternate AIF Disclosure Document dated September 3, 2016 which has been filed on SEDAR and can be accessed at www.sedar.com. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and ECN Capital does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.