Industry & Services >> CEO Interviews >> October 28, 2002

Bruce Ritchey – Wfi Industries Ltd (wfi:tse)

BRUCE RITCHEY is President and Chief Executive Officer of WFI Industries Ltd. WFI Industries Ltd. is the parent company of WaterFurnace International and LoopMaster International. Prior to WFI Industries, Mr. Ritchey spent 17 years with American Standard. He held numerous positions in human resources, sales training, marketing and field sales management. He served as Vice President of Sales for the $1 billion Unitary Products Group at Trane. Mr. Ritchey worked for York International and was Vice President of Distributor and National Account Operations for the $1 billion Unitary Air Conditioning Group for three years immediately before joining WFI Industries. He joined WFI as President and CEO in November 1998. At the time, the company was struggling. They had an operating loss of $1 million for the year; and the stock had fallen from C$1.50 to $0.74 in the previous 12 months. Over the past six years the company has rebounded and boasts the best operating ratios in its industry. Today WFI stock sells in the range of C$8.30; and has been one of the best performing stocks on the Toronto Stock Exchange over the past three years. Mr. Ritchey is an active member of the Air Conditioning and Refrigeration Institute, the International Ground Source Heat Pump Association and Vice Chairman of the Geothermal Heat Pump Consortium. Profile
TWST: Can we begin with a sketch of the history of the company

and a picture of things as they are now?

Mr. Ritchey: The company's been in existence for 20 years. We

started out as a local