<p>Empire President and Chief Executive Officer, Paul D. Sobey is retiring from his position as of December 11, 2013. The 32-year employee, who has served in his position since 1998 will continue as a Director of the company. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>“With the imminent closing of the Canada Safeway acquisition, Empire will be a truly operationally-focused, leading grocery retailer in this country. As such, the time is right for the transition of leadership,” Mr. Sobey said. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Marc Poulin, President and Chief Executive Officer of Sobeys Inc., will become President and Chief Executive Officer of Empire Company Limited while remaining President and Chief Executive Officer of Sobeys Inc., according to a press release. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Mr. Poulin joined Sobeys in 1997 and has held various senior executive roles including President of Sobeys’ Québec division for 11 years prior to his appointment as President and CEO of Sobeys Inc. in June 2012. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Mr. Sobey noted, “Our shareholders have truly benefited from our unwavering focus and commitment of continuously reallocating our capital and our management focus on the growth and development of our Sobeys food and related real estate businesses. I am very pleased that the board has appointed Marc Poulin to succeed me. Marc has been a major contributor to Sobeys’ success and is extremely well positioned and ready to lead Empire as we integrate and capitalize on this new and exciting platform for growth." </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Rob Dexter, Chair of Empire Company Limited’s board of directors, stated, “On behalf of the board, I thank Paul Sobey for his extraordinary accomplishments as CEO and throughout his 32-year career at Empire. Under his leadership, the company has transformed from a regional food retailer with other diversified operational investments and under $3 billion in sales, to a truly operationally-focused, national food retailer with pro-forma sales of $24 billion."</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>The Empire board has taken careful steps in planning the leadership succession. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Mr. Poulin, stated, “I am honored by the board’s confidence in me. Our management teams are extremely excited about the Canada Safeway acquisition including the opportunity for long-term, sustainable value creation through cash flow, income growth and equity appreciation associated with this acquisition and future growth of our business.” </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Congratulations to all as you move forward in your chosen paths!</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.sobeyscorporate.com/en/Our-Company/Leadership-Committee.aspx" target="_new"> Sobeys </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.empireco.ca/en/home/aboutus/default.aspx" target="_new"> Empire Company Limited</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
