Canadian Tire Corp. shuffled its senior executives on Thursday. Dean McCann becomes president of the retailer’s financial services division, replacing Marco Marrone, who becomes CFO and executive vice president of the parent company.

The changes were made as part of wider restructuring at Canadian Tire, which seems the firm consolidating its operational functions across its five business units.

Huw Thomas, the previous CFO, was named executive vice president of financial strategy and performance. Michael Medline will become president of the firm’s automotive and dealer relations. Stephen Wetmore, who took the position in early 2009, remains CEO and president of Canadian Tire.

In reporting its third quarter Thursday, Canadian Tire announced earnings of $85.4 million, down 21.7% for a year earlier. Contributing to quarter’s negative year-over-year results were higher loan losses reported by Canadian Tire Financial Services.

McCann is a 13-year veteran of Canadian Tire, and has been with CTFS for 10 years, where he most recently served as vice president, retail banking.

Canadian Tire offers financial services products such as credit cards, term deposits, TFSAs, and loans, and operates Canadian Tire Bank, the firm’s Schedule I banking subsidiary. Last month, Canadian Tire Financial sold its mortgage business to National Bank Financial of Montreal.

IE