Canadian retailer Loblaw appoints Per Bank as new CEO

George Weston

18/04/2023 13:03

April 18 (Reuters) - Canadian retailer Loblaw Cos Ltd
 L.TO  and its parent company George Weston Ltd  WN.TO  said on
Tuesday that Per Bank has been appointed as the new chief
executive officer and president of Loblaw.
    Bank, who is associated with Danish retail chain Salling
Group A/S, will formally join Loblaw by the first quarter of
2024, the companies said. He will take over from Galen Weston as
the president. 
    Weston will remain chair of Loblaw's board as well as the
CEO and chair of the board of George Weston Ltd.
    Founded in 1882, George Weston Ltdis majority owned by the
Weston family and owns Loblaw and Choice Properties Real Estate
Investment Trust. Loblaw operates more than 2,400 stores in
Canada.
    This appointment comes as Chief Operating Officer Robert
Sawyer is due to retire by end-2023. Sawyer served as a director
on the George Weston board since 2016 and was appointed the COO
of Loblaw in May 2021.
    In February, Loblaw forecast its annual earnings above
analysts' expectations and beat fourth-quarter estimates, helped
by strength in its pharmacy business and as demand held up for
groceries.
    

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru;
Editing by Sherry Jacob-Phillips)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))