5 October 2006
Hockey Rink or Commuter Hell?
Calgary Alberta - The lure of Calgary was just too much for
Michael Lambert.
The retailing veteran and president of casual clothing chain Mark's Work Wearhouse surprised company insiders and observers by
announcing yesterday he was leaving to join Canadian Pacific Railway Ltd. as its chief financial officer. Mark's has enjoyed several
years of strong financial gains under Mr. Lambert's leadership.
To some retail industry insiders, it didn't seem like that huge a step up to go from the top job at a relatively small company to the
No. 2 position at a larger one.
But Mr. Lambert, 51, said in an interview he considers the move to be a career advancement, with potential for more opportunities. At
the same time, it was a chance to stay in Calgary.
He said he would have had opportunities to climb the corporate ladder at Mark's parent, Canadian Tire Corp. Ltd. But he would have had
to leave Calgary and move to Toronto, where the Canadian Tire head office is based.
He, his wife and three children - 16, 18 and 20 - feel very tied to Calgary. "It's really important to our family to stay in
Calgary," he said.
"It's where our family has roots. We love the climate here. We like that it's a big small city, or a small big city. It's got a lot
that Toronto has to offer, but it's small enough that it still feels homey."
In Calgary, he can juggle hockey coaching with office demands easily, whereas in Toronto he would be stuck in commuter hell or downtown
traffic, he said.
Indeed, about seven years ago, he took the CFO job at Indigo Books & Music Inc. in Toronto only to leave after a few months,
returning to Mark's in Calgary. He and his family missed the city, he said. "You can still be a very big part of the community,
which our family is, and still be able to spend the hours required for a demanding job like CFO of a public company."
He said a CFO posting is more prestigious and important than it was a decade ago. Indeed, Corporate Canada is struggling with a dearth
of qualified CFOs on the market. CP had been looking for one since March, when Michael Waites left to join Finning International Inc.
Nevertheless, at CP, Mr. Lambert may have to wait a while to get bumped up to the top job. That's because the company recently promoted
Fred Green to chief executive officer.
Mr. Lambert said he wasn't looking for a new job, but was approached by a headhunter.
For Mark's, the transition will probably be relatively smooth, analysts said. Mr. Lambert had been co-president with Paul
Wilson for the past four years. Mr. Wilson will become sole president when Mr. Lambert leaves at the end of next week. Mr. Lambert was
with Mark's for 12 years and, before that, with Loblaw and its parent George Weston Ltd. for about a decade.
Mr. Lambert was credited with having a firm grasp of both the financial and merchandising sides of the business, and setting a clear
strategy. Mark's expanded over the past few years into more women's and casual clothing, while ensuring that its work wear responded to
customer demand.
|
