OTTAWA—Kevin Nicholds is no longer president of The Lowe-Martin Group's Dollco division. Dollco was a third-generation family business before being acquired by Lowe-Martin last year.

"He's a young man, he sold his family business and it was the right time for him to move on to start a new career," said Gord Griffiths, chief operating officer at The Lowe-Martin Group. Griffiths said that no one will be taking over the specific role of Dollco president, and that Nicholds' duties will be dispersed.

From 1956 to 2012, Dollco was owned and operated by Nicholds' family. Nicholds took the helm with his sister Krista in 2001, after their father, the late G. Brian “Hap” Nicholds, retired as president. He transitioned to the role of division president following the acquisition by Lowe-Martin in April 2012.