High-level management changes hit retailer.
July 17, 2014
by Canadian Packaging Staff
Loblaws Companies Ltd. announced on July 17, 2014 that it has replaced Vicente Trius as president of the company with former executive chairman Galen Weston.
In another move, Mike Lotz—currently Loblaws executive vice-president and chief merchandising officer—will replace the exiting Shoppers Drug Mart president Domenic Pilla before the end of the year.
Weston will take on his role as company president, but will also maintain his position as executive chairman, where he has been responsible for setting the strategic direction of the company and in leading the board of directors. In assuming the position of president, Weston will also be responsible for the execution of the company’s strategy, leadership of the management team and its overall business performance.
Weston has been the strategic architect of reshaping the grocery business, as well as transforming Loblaw into a diversified portfolio of complementary businesses, including the creation of Choice Properties and the acquisition of Shoppers Drug Mart.
“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,” comments Weston.
The departing Trius, had been president since August 2011, leaving the company immediately to return to Brazil for family reasons.
Weston says: “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. ”
As for the replacement of Shoppers president Pilla, Weston says Pilla is leaving to pursue opportunities to lead a widely-held public company.
“For the balance of the year, Domenic will remain as president of Shoppers Drug Mart and be fully engaged in the business. In addition to his normal duties, Domenic will work very closely with me to deliver on several important initiatives, including the transition to a new president of Shoppers Drug Mart. I have every confidence that Domenic will continue to make a significant contribution in the second half of the year,” concludes Weston.
Other changes at Loblaws include the appointment of:
Says Weston: “Since we announced the deal to acquire Shoppers Drug Mart over a year ago, we have made tremendous progress in realizing key deliverables that underpinned the transaction. Our two businesses are working well together and we are on track to deliver the first $100 million in synergies by the end of the first quarter of 2015.”
SOURCE: Loblaw Companies Limited