Wajax Announces Appointment of President and CEO

TORONTO, ONTARIO--(Marketwire - Dec. 13, 2011) - The Board of Directors of Wajax Corporation (TSX:WJX.TO - News) is pleased to announce the appointment of Mark Foote as President and Chief Executive Officer effective March 5, 2012.

Mr. Foote has served as President and Chief Executive Officer of Zellers since 2008. Previously, Mr. Foote was the President and Chief Merchandising Officer at Loblaw Companies where he oversaw procurement and merchandising functions for all lines of business, marketing, supply chain and information technology. Mr. Foote also had an extensive career with Canadian Tire Corporation where he worked for more than 20 years, including five years as President, Canadian Tire Retail. Mr. Foote has an MBA from the University of Toronto.

Mr. Paul Gagne, Chairman of the Board of Wajax Corporation commented: "On behalf of the Board of Directors, I thank Neil Manning for his commitment and outstanding contribution to Wajax over nearly a decade. Neil has transformed the company into a high performance and valued distributor of equipment, industrial components and power systems, operating across Canada under the Wajax brand. We wish Neil health, happiness and success in his future retirement.

We welcome Mark to the position of President and Chief Executive Officer and look forward to his contribution to Wajax, its employees, suppliers, customers and shareholders."

Wajax Corporation is a leading Canadian distributor and service support provider of equipment, industrial components and power systems. Reflecting a diversified exposure to the Canadian economy, its three distinct core businesses operate through a network of 117 branches across Canada. Its customer base spans natural resources, construction, transportation, manufacturing, industrial processing and utilities.

Contacts

Neil Manning
Wajax Corporation
President and Chief Executive Officer
(905) 212-3300
nmanning@wajax.com

John Hamilton
Wajax Corporation
Chief Financial Officer
(905) 212-3300
jhamilton@wajax.com