BRAMPTON, ON - As one door closes, another opens. For Loblaw, this means reshaping a pair of existing executive positions in favor of leaving behind the designated title “CEO.” Instead, the retailer announced it is expanding the responsibilities of its current President, Sarah Davis, while former Chairman and CEO Galen G. Weston moves forward as Executive Chairman, Loblaw Companies Limited.
"Sarah and I have worked closely for over a decade, and she has played an important role in many of Loblaw's most defining moments: the formation of Choice Properties, the acquisition of Shoppers Drug Mart, the creation of PC Optimum, and a long-term strategy that demonstrates our passion for customers," Weston said in a press release. "Together, our team has put the company on an exciting strategic path and Sarah is a great leader to take us forward."
Davis will continue to report to Weston, who retains senior executive oversight of Loblaw's long-term strategy while applying greater attention to a broader transformation strategy at parent company George Weston Limited, where he is Chairman and CEO.
In turn, Davis will assume expanded responsibilities in her role such as:
- Being fully responsible for the company's 13-member Management Board
- Continued day-to-day oversight of Loblaw's business performance
- Expanded direct-reporting lines with the addition of Finance and Human Resources
Davis brings 12 years of experience with the retailer to this next chapter, having previously served as Chief Financial Officer, Chief Administrative Officer, and the executive lead of most business and operational functions. She has held her current position since January of 2017.
Loblaw said that, other than the shifting of these responsibilities, its executive leadership remains unchanged.