Greg Hicks Honored as Canada's Outstanding CEO of the Year for 2025
Greg Hicks, the chief executive of Canadian Tire Corp. Ltd., has been named Canada's Outstanding CEO of the Year for 2025. This prestigious award, celebrating its 36th anniversary, recognizes his exceptional leadership and contributions to the iconic retailer.
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 past recipients 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, 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.
"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 said. "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 faced significant challenges, including a market cap that plummeted to $4.8 billion in March 2020 but has since more than doubled to approximately $10.2 billion. Despite largely flat revenues, this growth reflects the company's strong dividends, share buybacks, and investor confidence in Hicks' team.
The pandemic highlighted weaknesses in Canadian Tire's online presence and supply chain, leading to the implementation of the multi-billion-dollar Better Connected strategy in 2022. This initiative focused on enhancing the website and e-commerce capabilities. More recently, Hicks introduced the True North program, a four-year growth strategy centered on data-driven customer relationships, AI integration, an expanded Triangle Rewards loyalty system, and improved capital allocation.
Fatima Laher, chair of the CEO of the Year Advisory Board, praised Hicks for his commitment to community and inclusion. "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," she said. "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 balancing emotional connection with analytical decision-making. "You just have to show up balanced on that perspective. I have great passion and pride," he explained. "We're an organization that uses a tremendous amount of data, especially customer data, and it's that combination of passion and emotion for the brand with a balanced dose of empirical facts that has always created great ambition."
He addressed tough decisions, such as layoffs in recent years, noting they are necessary to compete with global-scale players like Amazon. "They're still the most difficult decisions to make, but we think that they're necessary as a component of having a much better competitive posture," Hicks said.
The True North strategy aims to transform Canadian Tire from a product seller to a destination for life's occasions, leveraging AI and first-party data. Hicks emphasized the importance of the Triangle Rewards program, stating, "The simplest way to think about it is that Canadian Tire money keeps customers coming back."
Patriotic Initiatives and Brand Stewardship
Hicks highlighted Canadian Tire's authentic Canadian identity, which was reinforced by the purchase of Hudson's Bay Co. stripes for $30 million. "We didn't buy Hudson's Bay to modernize it. We bought it to protect it for Canadians," he said. "The acquisition was as strategic as it was patriotic." This move aligns with the company's purpose of strengthening the nation.
Looking ahead, Hicks expressed cautious optimism about the Canadian economy, citing challenges like consumer sentiment and trade uncertainties. "We need to see that move in the right direction and we need to see growth in this economy," he remarked.
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 said. He credited his father's work ethic as a key influence and shared lessons learned, such as "Transparency builds trust, especially in hard moments."
Outside work, Hicks enjoys spending time with family, golf, travel, and podcasts. He humbly attributed the CEO award to his team, stating, "It's recognition for the amazing team I have the pleasure of leading."
The Outstanding CEO of the Year award, established by Caldwell in 1990, is selected by an advisory board of over 20 business leaders based on criteria including vision, corporate performance, and social responsibility. This honor underscores Hicks' impact on Canadian retail and his dedication to building a stronger community.
