March 2021
The vision for Brookstone is for continued asset growth and for the distribution of meaningful capital to its shareholders.
To meet these objectives, Brookstone requires an operational leader who can continue the work of building Legacy.
The Board of Directors has recruited Bill Graham to take on the full-time role of Brookstone Chief Executive Officer.
Bill Graham’s most recent role was as CEO and President of Rifco, an auto loan finance company. Among his accomplishments at Rifco:
- Founded Rifco as a private company, led it through a go-public transaction, and oversaw its growth and development from start-up to over $250 million in assets.
- Was responsible for the development and execution of the strategic and operational plans underpinning the company’s vision.
- Led many major projects including new software data conversion of approximately 27,000 active and inactive loans accounts including over 34,000 customer records, and over 1 million account notation comments.
- Persevered through the credit crisis / great recession, Alberta’s collapse in energy prices, and a crowded competitive environment fueled by new start-up ventures.
- Most recently demonstrated the success of a transformation to refocus the Company’s priorities to data and analytics including developing advanced decision making and automation.
- While leading Rifco, Bill was a finalist for “Entrepreneur of the Year, Ernst & Young” while the Company received numerous awards for fast growth from Profit Magazine and Alberta Venture Magazine. The Company has lent over $1Billion in automobile loans.
The new CEO and your Board have laid out a working plan to deliver shareholder value:
- Stage 1 – Corporate Assessment – Optimize Reporting – Initiate transformation planning
- Stage 2 – Transformation – Clean up the balance sheet and increase commercial real estate holdings to $50Million
- Stage 3 – Shareholder Distributions – Initiate meaningful and sustainable regular distributions
- Stage 4 – Further Growth – Increase commercial real estate holdings to $100MM in assets
In recent years, the value of Legacy shares has increased from $1,000,000 to $10,000,000+- as our efforts have resulted in cash recoveries and as our real estate investments have generated returns.
Denise Lester will continue her role as President of the Company, Daryl R. Hillman will continue his role as Chairman of the Board of Directors. Both are enthusiastic to work with Bill to accelerate the growth and refinement of Legacy.
