Plano Synergy Holdings (Plano Synergy), a portfolio company of Ontario Teachers’ Pension Plan (OTPP) today announced the appointment of current CEO Tom Hurt as Vice Chairman. The appointment is effective immediately and initiates the company CEO succession plan.
Mr. Hurt, who has served as the President and CEO of Plano Synergy since 2008, had previously notified the company of his desire to step back from day-to-day leadership at the company. Under Mr. Hurt’s leadership, since OTPP’s investment in 2012, Plano Synergy has approximately doubled in revenue through both organic growth and the merger or acquisition of a number of complementary brands, creating a powerhouse within the outdoor enthusiast marketplace.
In announcing the appointment, Mark Pettie, Chairman said “On behalf of the Board of Directors, we would like to take this opportunity to recognize Tom’s tremendous contributions to Plano Synergy. Elevating Tom into this senior strategic role provides the company with the continued benefit of his deep industry and business experience. As we continue to focus on acquisitions and robust organic growth, Tom’s counsel to me, the entire Board and management team will be invaluable.”
Noting a thirty plus year career in general management, sales and marketing within Plano Synergy, Mr. Hurt stated: “I am excited to start this new chapter with the company. We have a great strategy for the future and I look forward to focusing on key opportunities that will take Plano Synergy to new levels of success.”
Jane Rowe, Senior Vice-President, OTPP, added “Tom is an exceptional business partner and moreover, an ambassador of our brands and for the industry. He is a widely respected sportsman as well as an admired outdoor industry CEO. We are delighted that he will continue as a key trusted advisor as we progress through our future growth plans. Securing an orderly succession in our businesses is critical, and assuring that our Board continues to benefit from Tom’s contributions going forward is an important step in the process.”
Plano Synergy has engaged a respected executive recruiting firm to conduct a search for the CEO to succeed Mr. Hurt, who will continue in his current role until his successor is chosen.