BRAMPTON, ON – Loblaw Companies Limited’s Board of Directors has appointed Galen G. Weston, the current Executive Chairman, as the new President, effective immediately. He will also continue in his position as Executive Chairman.
"I am excited about the future, and the opportunity to execute on the strategic vision we have built for the Company. I am confident that Loblaw will continue to advance its business both financially and operationally and be well positioned to create long-term sustainable value," commented Mr. Weston.
Weston has an extensive background in Canadian retail. He has been the strategic architect of reshaping the grocery business as well as transforming Loblaw into a diversified portfolio of businesses, according to a press release. Weston is credited with the creation of the Choice Properties and the acquisition of Shoppers Drug Mart.
As Executive Chairman, Weston is responsible for setting the strategic direction of the Company as well as leading the Board. In his new role of President, he will be responsible for the execution of the Company’s strategy, leadership of the management team and its overall business performance.
Loblaw reports that Vicente Trius, President since August 2011, will be leaving the business effective today to return to Brazil for family reasons.
“Vicente has made an enormous impact on virtually every aspect of our business in the time that he has been with the Company. Our businesses are stronger, our customer proposition more compelling, and our operating effectiveness much improved. He has set a strong foundation for the future,” said Mr. Weston.
“When we release our second quarter results next week,” Weston continued, “You will see that Vicente and the team have delivered another solid quarter in a very competitive supermarket environment, with synergies, SAP and efficiencies on track. With the business in very good shape, Vicente felt it was the right time to leave Loblaw. I respect his decision, and on behalf of the Board and all of our colleagues in the business, I thank him for his many contributions."
Congratulations on the new appointment Mr. Weston!
