Toromont Industries Ltd. announced that Michael McMillan will be appointed President and Chief Executive Officer upon the retirement of Scott Medhurst. Mr. Medhurst previously announced his intention to retire as CEO after a successful 35-year career with Toromont. Mr. McMillan joined Toromont in 2020, as Executive Vice President and Chief Financial Officer, bringing a proven track record for leadership and disciplined execution.

He has been a critical partner to Mr. Medhurst and the entire Toromont team, helping to successfully navigate Toromont through these unprecedented recent years. A search for Mr. McMillan's successor as CFO is underway and the effective date of his appointment to CEO will be announced at a later date, along with the CFO appointment. Until then, Mr. Medhurst will continue as CEO while he and Mr. McMillan prepare for the transition.

Following Mr. McMillan's appointment as CEO, Mr. Medhurst will stay on as his advisor to help in a smooth changeover.