Greg Hicks, the chief executive of Canadian Tire Corp. Ltd., has been awarded the prestigious title of Canada's Outstanding CEO of the Year for 2026. This accolade comes as a testament to his exceptional leadership and strategic vision, which have steered the iconic national retailer through challenging times and positioned it for future growth.
A Deep-Rooted Connection to Canadian Tire
Hicks assumed the role of CEO on March 12, 2020, just one day after the World Health Organization declared COVID-19 a global pandemic. Unlike many previous recipients of this award who were founders or family successors, Hicks brings a unique personal history with the company. His father served as both an executive and a dealer for Canadian Tire, his uncles were dealers, and his brother continues in that role today. Hicks himself worked in his father's store and held various positions, including president of Canadian Tire Retail, overseeing more than 500 stores before becoming CEO.
"For the majority of my life, it's always been about the Tire. And from that standpoint, this wasn't just another job for me; it was the job," Hicks remarked. "I consider myself extremely fortunate to lead such an iconic brand that means so much to Canada. There's just this deep connection that comes with understanding that it is a part of who I am."
Navigating Challenges and Driving Growth
Under Hicks' leadership, Canadian Tire has demonstrated resilience and strategic agility. The company's market capitalization plummeted to $4.8 billion on March 23, 2020, but has since more than doubled to approximately $10.2 billion, despite largely flat revenues. This growth reflects investor confidence in Hicks and his team, bolstered by a history of dividends and share buybacks.
The pandemic exposed weaknesses in Canadian Tire's online presence and supply chain, prompting the implementation of the multi-billion-dollar Better Connected strategy in 2022. This initiative focused on enhancing the website, e-commerce capabilities, and overall connectivity. Building on this, Hicks introduced the True North program a year ago, a four-year growth strategy centered on data-driven customer relationships, artificial intelligence, core retail growth, an expanded Triangle Rewards loyalty system, and improved capital allocation.
Embracing Innovation and Community Commitment
Hicks has championed the use of AI and data analytics to personalize customer experiences, a move praised by analysts. "We have also long viewed Canadian Tire as a leader in data analytics and believe that its work on leveraging AI within its organization is a natural extension of this," noted CIBC Capital Markets in a recent report.
The CEO of the Year Advisory Board highlighted Hicks' contributions to both business growth and community building. Fatima Laher, chair of the board and deputy chair of Deloitte Canada and Chile, stated, "He has championed a number of initiatives that reflect his commitment to community and inclusion, from helping millions of kids access sports through Jumpstart to forging partnerships for Indigenous reconciliation. He has shown he is not just growing a business; he is strengthening the fabric of our communities."
Strategic Vision and Future Outlook
In an interview, Hicks discussed the evolution of retail and Canadian Tire's strategies. He emphasized the importance of balancing emotional connection with analytical rigor, noting that the company's deep customer trust and first-party data provide a competitive edge. "Customers are more demanding," he observed. "They've got an expectation for us showing up in every moment that matters to them with a great deal of care and understanding."
Hicks also addressed challenges such as layoffs and economic uncertainty, attributing tough decisions to the need for competitiveness against global players. "You really have to take yourself into the future if you really care about this place and care about it being around for the next generation," he explained.
Acquisition of Hudson's Bay and Brand Stewardship
A notable move under Hicks' tenure was the acquisition of Hudson's Bay Co.'s stripes and intellectual property for $30 million, a decision he described as both strategic and patriotic. "We didn't buy Hudson's Bay to modernize it. We bought it to protect it for Canadians," Hicks said, underscoring Canadian Tire's role in nation-building.
He also highlighted the company's success in acquiring and growing national brands like Noma and Vermont Castings, applying a "secret sauce" of product development tailored for Canadian consumers.
Leadership Philosophy and Personal Insights
Reflecting on his management style, Hicks emphasized character, transparency, and self-awareness. "Leadership is a journey. It requires reflection, self-awareness, and a growth mindset," he shared. He credited his father's work ethic as a key influence and offered advice for aspiring leaders: "Transparency builds trust, especially in hard moments."
Outside of work, Hicks enjoys spending time with family, golf, travel, and podcasts. He humbly attributed the CEO award to his team's efforts, stating, "It's recognition for the amazing team I have the pleasure of leading."
The Outstanding CEO of the Year award, now in its 36th year, is selected by an advisory board of respected business leaders based on criteria including vision, corporate performance, innovation, and social responsibility. This recognition solidifies Greg Hicks' status as a transformative leader in Canadian business, driving Canadian Tire forward with a blend of tradition and innovation.
