Business
Genesis Land Development Corp. Announces the Retirement of Iain Stewart and Appointment of PS Sidhu as President and CEO
Genesis Land Development Corp. Announces the Retirement of Iain Stewart and Appointment of PS Sid...
About this update from Genesis Land Development Corp.
[{"type":"text","content":"\n\n\n\n Genesis Land Development Corp. Announces the Retirement of Iain Stewart and Appointment of PS Sidhu as President and CEO\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n May 20, 2025\n \n\n /CNW/ - Genesis Land Development Corp. (TSX: GDC) (\"Genesis\") today announced the retirement of\n \n Iain Stewart\n \n as President and Chief Executive Officer and the appointment of Parveshindera (PS) Sidhu as President, Chief Executive Officer and a Director of Genesis, both effective\n \n June 30, 2025\n \n .\n \n\n\n\n\n\n\n\n\n Mr. Stewart has been a Director of Genesis since\n \n August 2013\n \n and was appointed President and Chief Executive Officer in 2018. Mr. Stewart will continue as a member of the Board of Directors.\n \n\n \"On behalf of the Board of Directors and shareholders, I would like to thank Iain for his leadership and dedication,\" said Board Chair,\n \n Stephen Griggs\n \n . \"Iain developed our growth-oriented strategy, steered the company through the challenges of the global pandemic, and delivered the strongest financial years in company history. During his tenure, Genesis more than tripled its home and lot production and sales, more than doubled its asset base to\n \n $585 million\n \n and generating record earnings of almost\n \n $40 million\n \n in 2024.\"\n \n\n Mr. Stewart said, \"I am very proud of what we have achieved at Genesis in the last decade, and especially during my time as CEO. I am confident that Genesis is well positioned to build off the company's recent successes under PS' leadership. I would like to thank the entire Genesis team, the board of directors and our key shareholders for their support and guidance.\"\n \n\n Mr. Sidhu has been with Genesis since 2005 and has been taking on increasingly senior roles as a part of his executive development, most recently as President and Chief Operating Officer, prior to which he was President of Genesis Builders Group Inc. (\"GBG\") for a number of years.\n \n\n \"PS has been integral to Genesis' growth for nearly 20 y...