Being an entrepreneur sometimes means putting your ego aside and having the interests of the company at the heart of decisions. “My dad always told me ‘you have a choice in life, is the family for the business or is the business for the family?’” says Peter Simons.
After 182 years and five generations of entrepreneurs, Mr. Simons continued the family recipe by betting above all on La Maison Simons, appointing Bernard Leblanc president and chief executive officer on Tuesday.
It is, however, the first time in its history that the retailer has found itself with a president who does not bear the name Simons on his baptistery, and this decision was made even if the hour of early retirement has not come for him. ex-boss.
“I am 57 years old. I train four times a week precisely to avoid early retirement, ”confided with a touch of humor Mr. Simons, conceding that this decision was not taken without emotion.
“Honestly, it was a matter of timing. There, business is good. […] What scared me the most was doing like other people who wait too long. People who don’t think about the company, but rather about their needs. I did not want to fall into this trap,” he adds.
The businessman will remain in the organization as head merchant, he will focus mainly on the development of “the fashion assortment and the influence of the brand”, and he will continue to sit on the family council. His brother Richard will also remain in the company.
The Simons family will remain the retailer’s controlling shareholder. This change was approved by the other financial partners, such as Investissement Québec and the Caisse de dépôt et placement du Québec.
A thought
Mr. Simons had been thinking for several months about passing the torch, while the company is now showing growth, good financial health, and wants to continue its development.
“The organization speaks in a certain way. There, it was the good time, and she said to me: “have the courage”. You can’t ask people during COVID-19 to be brave, to face change and to be resilient, and when it’s your turn, you give up, ”said Mr. Simons, assuring not to have felt pressure from his partners to leave his post.
The new President and CEO is no stranger to La Maison Simons. Mr. Leblanc occupied until Tuesday the position of executive vice-president and chief of corporate operations. His mandate will be to continue the development of the stores and the online site.
“Essentially, we are staying on course with the business priorities that we have established in recent months,” he says, not ruling out the possibility of opening new stores, such as in Toronto or on the Halifax side. .
Happy
Mr. Simons is delighted to have managed to complete his digital shift in recent months, despite the challenges related to the pandemic. La Maison Simons can now count on its $200 million distribution center in Quebec.
In 2018, Quebec had granted a loan of $81 million for this project, the Fonds immobilier de solidarité FTQ had invested $20 million, the Caisse, $27 million, and Investissement Québec, $17 million.
For the past two years, Mr. Simons has never hidden his fear of losing his business. In the spring of 2020, all the scenarios were on its table, in particular a restructuring or the addition of investors. He had to borrow $30 million from BDC Capital to help the company.
Even though he is no longer the president of La Maison Simons, a position he held for 26 years, Mr. Simons is closing the door on the idea of making the leap into politics next fall.
Maison Simons was founded in 1840 by John Simons. The brand has 15 stores in Canada and nearly 3,000 employees. A 16e branch will open its doors at the Fairview Pointe-Claire Center in May.
Prime Minister François Legault praised the work of Mr. Simons on Tuesday.
“It’s a page of history that is turning. […] He remains a shareholder, and that is what is important,” he said.
– With the collaboration of Marc-André Gagnon