Business
Shoppers Drug Mart Coproration announces leadership and succession plans - Jurgen Schreiber to succeed Glenn Murphy as Chief Executive Officer in the second quarter
Shoppers Drug Mart Coproration announces leadership and succession plans - Jurgen Schreiber to succeed Glenn Murphy as Chief Executive Officer in the second quarter.
About this update from Serrano Resources Ltd.
[{"type":"text","content":"\n\n\n\nTORONTO, Jan. 17 /CNW/ - The Board of Directors of Shoppers Drug Mart\nCorporation today announced a leadership and succession plan that will see\nChairman and Chief Executive Officer Glenn Murphy leaving the Company at the\nend of March. At that time, Mr. Murphy will be succeeded as CEO of the Company\nby its current President and Chief Operating Officer, Jurgen Schreiber.\n\n\nMr. Murphy joined Shoppers Drug Mart as its Chairman and Chief Executive\nOfficer in June of 2001. Under his stewardship and direction, the Company has\nemerged as one of Canada's largest publicly traded entities, with a market\ncapitalization in excess of $10 billion. During his tenure, Mr. Murphy has led\nthe Company through a period of record growth in sales and profitability. This\nwas accomplished by successfully leveraging Shoppers' leadership position in\npharmacy, re-invigorating the brand with the introduction of a new store model\nand by adding innovative products and services focussed on the Company's core\nofferings in health, beauty and convenience.\n\n\nMr. Schreiber joined the Company as President and Chief Operating Officer\nin August of last year. His move to Canada followed an extensive career in the\nconsumer packaged goods and retail sectors throughout Asia and Europe. Prior\nto joining the Company, Mr. Schreiber was most recently Chief Executive\nOfficer, Health and Beauty Europe for A.S. Watson, a subsidiary of Hutchison\nWhampoa Limited, owner of the world's largest network of health and beauty\nstores where he was responsible for more than 4,000 stores in 23 countries.\n\n\nIn announcing his departure, Mr. Murphy stated, \"My time at Shoppers has\nbeen the most satisfying experience of my career. I've had the good fortune of\nworking within our Associate-ownership structure, supported by the most\ntalented management team and employees in all of retail. I owe much of what I\nhave accomplished personally to their unwavering dedication, commitment and\ndrive to succeed. I am confident that Shoppers will continue to execute on our\nwell-defined strategies and initiatives and that Jurgen's global experience,\ncreativity and energy will lead the Company to new levels of growth and\nsuccess.\"\n\n\nIn reference to the timing of today's announcement, Mr. Murphy stated,\n\"Early in 2006, the Board decided that it was the right tim...