Business
Paul D. Sobey Announces Retirement
STELLARTON, NS , Oct. 15, 2013 /CNW/ - Empire Company Limited today announced its long-t...
About this update from Empire Co Ltd Class A
[{"type":"text","content":"\n\n\nSTELLARTON, NS, Oct. 15, 2013 /CNW/ - Empire Company Limited today\n announced its long-term succession plan.\n\n\nPaul D. Sobey, a 32-year Empire employee, who has served as President\n and Chief Executive Officer since 1998, will retire from his position\n on December 11, 2013, while continuing as a director of the company.\n\n\n\"With the imminent closing of the Canada Safeway acquisition, Empire\n will be a truly operationally-focused, leading grocery retailer in this\n country. As such, the time is right for the transition of leadership,\"\n Mr. Sobey said.\n\n\nMarc Poulin, President and Chief Executive Officer of Sobeys Inc., will\n become President and Chief Executive Officer of Empire Company Limited\n effective December 12, 2013.  Mr. Poulin will remain as President and\n Chief Executive Officer of Sobeys Inc.\n\n\nMr. Poulin joined Sobeys in 1997. He has held various senior executive\n roles with the company, including President of Sobeys' Québec division\n for 11 years prior to his appointment as President and CEO of Sobeys\n Inc. in June 2012.\n\n\n\"Our shareholders have truly benefited from our unwavering focus and\n commitment of continuously reallocating our capital and our management\n focus on the growth and development of our Sobeys food and related real\n estate businesses.\n\n\n\"I am very pleased that the board has appointed Marc Poulin to succeed\n me. Marc has been a major contributor to Sobeys' success and is\n extremely well positioned and ready to lead Empire as we integrate and\n capitalize on this new and exciting platform for growth.\n\n\n\"It has truly been an exciting 15 years as President and CEO, and I have\n been honoured to lead our company during this period. I look forward to\n assisting Marc and the board in the transition while continuing to\n serve as a director,\" Mr. Sobey continued.\n\n\nRob Dexter, Chair of Empire Company Limited's board of directors said: \n \"On behalf of the board, I thank Paul Sobey for his extraordinary\n accomplishments as CEO and throughout his 32-year career at Empire.\n Under his leadership, the company has transformed from a regional food\n retailer with other diversified operational investments and under $3\n billion in sales, to a truly operationally-focused, national food\n retailer with pro-forma sales of $24 billion.\n\n\n\"The boa...