Torstar announced multiple executive moves on Tuesday, including a new position for current CEO John Boynton.
Boynton will become vice-chair of Torstar owner NordStar Capital, as well as president of digital, with a focus on growth in the digital side of the business, said Torstar chair Paul Rivett.
Boynton has been president and CEO of Torstar, owner of the Toronto Star, since 2017. Prior to that, he held senior positions at Aimia Inc. and Rogers Communications Inc. for a combined 15 years.
Lorenzo DeMarchi, who was appointed chief investment officer last year, will be Torstar’s interim CEO in Boynton’s stead. Prior to his 2020 appointment, DeMarchi was executive vice-president and chief financial officer for more than a decade. Rivett said that while DeMarchi helms the company, Torstar will be on the lookout for a permanent new CEO.
“The move with John Boynton is meant to bolster us on the digital side across the organization, and … free him up from the day-to-day,” said Rivett in an interview.
Ian Oliver, until now president of Metroland and executive vice-president of Torstar, will become CEO and co-owner of a new group of companies, including of the existing Metroland Parcel Services, which launched last November, and focusing on growing e-commerce businesses, according to the press release Tuesday.
Metroland Parcel Services provides final-mile delivery for major retail clients to 147,000 postal codes and 70 per cent of Ontario households.
Oliver has been executive vice-president of Torstar and president of community brands since October 2017.
Pary Bell, who has been the senior vice-president of commercial products and sales operations for Torstar since 2018, recently became president of Torstar-owned digital marketing firm Eyereturn Marketing, where Torstar co-owner and Toronto Star publisher Jordan Bitove said he has “exceeded expectations.”
The moves for Oliver and Bell are part of a decentralized approach that will “go back to putting people with direct ownership and skin in the game.”
“We continue to be very excited with the direction we’re going in,” said Rivett.
Bitove also announced that senior vice-president and general counsel Marie Beyette, who has been with the company since 1998, is retiring.