CEO Mike Walsh is refreshingly candid about his company’s lacklustre stock price in recent years
Leon’s CEO Mike Walsh, the first non-family member to run Canada’s largest furniture, mattresses and appliance chain since it was founded in 1909 by Lebanese immigrant Ablan Leon, is refreshingly candid about his company’s lacklustre stock price in recent years.
Walsh joined Leon’s in 2015 after a long career at Canadian Tire and succeeded Edward Leon as CEO in 2021. The share price was $13 in April 2013, just after Leon’s acquired The Brick furniture and electronics chain. Lately, it’s been around $19. “We haven’t told our story,” Walsh says. “Families are strategic in nature,” says Leon’s CEO Mike Walsh. “They’re not about the latest trend.”
Leon’s has also returned $615 million to investors over the past three years in the form of dividends and share buybacks. That brings up the sometimes-controversial subject of family control. The Leon family owns about 70% of the company’s stock.
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