FirstService Appoints Steve Grimshaw to its Board of Directors

Rhea-AI Summary

FirstService Corporation (TSX: FSV; NASDAQ: FSV) appointed Steve H. Grimshaw to its Board of Directors, expanding the board to nine members, with seven being independent. Grimshaw, the Executive Chairman of Caliber, Inc., has a proven track record of growth in service-based businesses, significantly increasing Caliber's revenue from $280 million to over $4 billion. His experience is expected to enhance FirstService's commitment to service excellence and customer experience, critical for the company's ongoing success in the property services sector.

Positive

• Appointment of Steve Grimshaw, bringing extensive experience in growing service-based businesses.
• Expansion of the board to include seven independent directors, enhancing governance.

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• None.

TORONTO, May 11, 2021 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX: FSV; NASDAQ: FSV) today announced the appointment of Steve H. Grimshaw to its Board of Directors. Mr. Grimshaw’s appointment expands the Board to nine directors, seven of whom are independent directors.

Mr. Grimshaw brings extensive experience to FirstService, particularly centered around his stewardship of leading service-based businesses. Mr. Grimshaw is currently the full-time Executive Chairman of Caliber, Inc., one of the largest automotive service companies in the U.S. Mr. Grimshaw initially joined Caliber as CEO in 2009, and has overseen the significant growth of the business from 68 locations in two states generating $280 million in revenues to a national market leader with more than $4 billion in annual revenues from over 1,200 locations across 35 states. Prior to joining Caliber, Mr. Grimshaw served as Executive Vice President & General Manager at Safety-Kleen Systems, one of the largest environmental services companies in the U.S.

“We are delighted that Steve has joined the FirstService Board”, said Jay Hennick, Chairman of the Board of Directors of FirstService. “Steve brings a tremendous level of experience driving growth at market-leading, service-based companies through a culture aimed at service excellence and enhancing the customer experience.   FirstService’s track record of success relies on these same key ingredients and we look forward to tapping into Steve’s insights and perspectives in this regard.”

About FirstService Corporation

FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America's largest manager of residential communities; and FirstService Brands, one of North America's largest providers of essential property services delivered through individually branded franchise systems and company-owned operations.

FirstService generates more than $2.8 billion in annual revenues and has approximately 24,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The Common Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol "FSV". 

For the latest news from FirstService Corporation, visit Firstservice.com.

COMPANY CONTACT:

D. Scott Patterson
Chief Executive Officer

Jeremy Rakusin
Chief Financial Officer

(416) 960-9566

FAQ

Who is Steve H. Grimshaw and what is his role at FirstService Corporation?

Steve H. Grimshaw has been appointed to the Board of Directors of FirstService Corporation, contributing his extensive experience from his leadership role at Caliber, Inc.

How will Steve Grimshaw's appointment impact FirstService Corporation?

Grimshaw's appointment is expected to enhance FirstService's focus on service excellence and customer experience, which are vital for the company's growth.

What is the significance of having seven independent directors on FirstService's board?

Having seven independent directors strengthens the governance of FirstService Corporation, ensuring impartial oversight and diverse perspectives in decision-making.

What is FirstService Corporation's main business focus?

FirstService Corporation is a leader in the property services sector, operating through FirstService Residential and FirstService Brands, providing essential property management and services.