CALGARY — Rocky Mountain Dealerships today provided an update on its search for a new Chief Executive Officer. On August 5, 2014, it was announced that Mr. Matt Campbell had declared his intention to retire as CEO of Rocky effective December 31, 2014.

It was also announced that Mr. Derek Stimson had announced his intention to retire as President of Rocky as at that date. Since that announcement, Rocky's Compensation, Governance and Nominating Committee has retained a leading international executive search firm to assist in finding and assessing prospective internal and external CEO candidates. 

Paul Walters, Chair of the Committee and Lead Independent Director, commenting on the ongoing search, stated, "We are pleased with the progress of our search to date. The Committee understands the very significant nature of the decision here. Accordingly, we have taken a thoughtful and thorough approach to CEO succession, which our shareholders, customers, partners and employees deserve. The executive search firm we retained has provided us with a number of quality external candidates interested in this important leadership role. We now have a final group of individuals, composed of internal and external candidates, on whom we are now conducting extensive research and diligence."

Rocky also today provided an update on the timeline for the previously-announced management succession. Mr. Walters remarked, "This final selection process will require significant deliberation by Rocky's entire Board of Directors. As stated earlier, we continue to make good progress in this regard, and we expect that a decision will be made in the first quarter of 2015.  In the meantime, both Mr. Campbell and Mr. Stimson have agreed to remain on in their current roles until a new CEO has been named."

Mr. Walters concluded his remarks by saying, "On behalf of the entire Board of Directors, I would like to express our thanks to all of Rocky's employees and its senior management, who continue to remain focused on the continuous improvement of our business during this important transition period."