HIP, HIP, hoo-RAY!!

Days after a second hip replacement and days before his scheduled retirement, Ray Newstead reflects on a fulfilling career and looks forward to a bright future.

After decades spent navigating balance sheets, building teams, and helping shape some of Canada’s leading HVAC distribution businesses, Ray is preparing to step back from the day to day. But “retirement,” he says, isn’t quite the right word.

“I still love what I do,” Ray reflects. “But it’s time for a change.”

That change comes at the close of a career that began in accounting and steadily expanded into something far broader. A CPA by training, Ray started in industrial manufacturing, working with companies producing chemicals like chlorine and caustic soda. “Being involved in manufacturing really helped me gain a solid understanding of all the different facets of the business.” he recalls. That learning would later shape how he approached the HVAC and distribution world.

By the mid 1990s, Ray moved into electrical wholesale distribution, eventually joining Sonepar Canada. Across that chapter and the ones that followed, he built a reputation not only as a financial leader, but as someone driven to understand the business operations at every level.

That curiosity became a defining trait of his leadership. Rather than staying in a narrow lane, Ray sought to understand the full lifecycle of a business — from supplier constraints to customer expectations. “Understanding how a transaction works from start to finish, and why each step is important, has been key to my success,” he says.

It also shaped his philosophy of value creation. Early in his career, a lesson from the sales floor stayed with him: “If you’re here, bring value. Otherwise, you’re nothing but cost.” It’s a mindset that he carried forward, emphasizing that every role contributes to the success of the customer experience. “Whether it’s accounts receivable, purchasing, or sales, we all serve the customer.” he says.

Ray’s entry into HVAC came with Independent Supply where, as the CFO, he helped guide the company through rapid growth and the eventual sale of the business. Senior leadership roles followed with Refrigerative Supply and ECCO, where he oversaw the broad operations across the wholesale business.

Looking back, Ray prefers not to spotlight his own achievements, but instead to acknowledge the people and organizations that shaped him. “I’ve been fortunate to work with a number of very different organizations over the years,” he says. “And to work with some truly great people.”

Now, as retirement approaches, Ray’s focus is shifting. With two grandchildren in the picture, time has taken on new meaning. “It’s time to think more thoughtfully about how I spend my time.” he says candidly.

Still, he isn’t planning to step away entirely. "I plan to keep helping companies elevate their operations, but with a more limited and intentional scope of engagement." he says.

He’s equally committed to giving back, something that has long been a part of his life. From industry associations like HRAI to charitable work, including a decade as a board member with the Prostate Cancer Foundation of BC.

As he looks ahead to spending more time at the family cabin, travelling the world with Kim, learning some new hobbies, consulting, and community work, Ray’s tone is not one of closure, but of continuation. This retiree is not slowing down!

When asked if he’ll stay connected to the industry, he says “Absolutely, wherever I can help.”

After a successful career spent building, improving, and connecting, it’s clear that while one chapter closes, a new one is opening, and it promises to be just as exciting.

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