Westons Embark On New Era Of Control At Loblaw
July 23, 2014 | 1 min to read
A sweeping management shuffle at Loblaw Cos. Ltd. signals that the Weston family, the grocer’s largest shareholder, is moving to further assert control at a time of massive change at the retailer.
Loblaw, which this year bought Shoppers Drug Mart for $12.4-billion, on Thursday announced Galen G. Weston as president, adding to his role as executive chairman. He replaced Vicente Trius, a former executive at discount titan Wal-Mart Stores Inc. who oversaw operational improvements at Loblaw’s supermarket chains. He is leaving for family reasons and returning to Brazil, the company said.
Mr. Weston said his family and George Weston Ltd., which owns 43 per cent of Loblaw, want to ensure that their investments over the past year continue to bear fruit, including the Shoppers takeover and last year’s spinoff of the retailer’s real estate into a Real Estate Investment Trust.
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