Loblaw names new president in shuffle
SARAH DAVIS PROMOTED AS SCION TAKES HELM AT GEORGE WESTON
TORONTO • Sarah Davis, aC-suite veteran at Loblaw Cos. Ltd., has replaced Galen G. Weston as president of Canada’s biggest grocery chain.
The move comes as part of a management shuffle that saw the Weston scion appointed chief executive of George Weston Ltd., the bakery and food distributor led by his father W. Galen for decades before he stepped aside last year as part of a staged succession plan. Weston, 44, had been president of Loblaw since 2014.
Davis was most recently chief administrative officer at Loblaw, with responsibility for supply chain and IT, including overseeing the final stages of the retailer’s arduous SAP point- of- sale software rollout. She was also responsible for real estate and strategy.
“I am extremely pleased to welcome Sarah to the role of president,” Weston said in a statement. “She has an exceptional understanding of Loblaw. This, together with her strong financial background, particularly in operational roles, positions her well for this expanded leadership role.”
Sarah Davis, a C- suite veteran at Loblaw Cos. Ltd., has replaced Galen G. Weston as president of Canada’s biggest grocery chain.
It comes as part of a management shuffle that saw the Weston scion appointed chief executive of George Weston Ltd., the bakery and food distributor led by his father W. Galen for decades before he stepped aside last year as part of a staged succession plan. Weston, 44, had been president of Loblaw since 2014.
Davis was most recently chief administrative officer at Loblaw, with responsibility for supply chain and IT, including overseeing the final stages of the retailer’s arduous SAP point- of- sale software rollout. She was also responsible for real estate and strategy. Before taking over the role in 2014, Davis had served as Loblaw’s chief financial officer since 2010. Prior to that, Davis, 49, was vice-president and controller at Rogers Communications Inc.
“I am extremely pleased to welcome Sarah to the role of president,” Weston said in a statement. “She has an exceptional understanding of Loblaw. This, together with her strong financial background, particularly in operational roles, positions her well for this expanded leadership role.”
Davis, who now assumes responsibility for Loblaw’s strategic execution and day- to- day operations, was not available for comment Thursday.
The management shift follows the younger Weston’s move last September into the role of chairman at George Weston Ltd. when his father stepped aside at age 75. Weston, the fourth generation of the family to lead the business, replaces Pavi Binning as chief executive of George Weston, which owns a controlling stake in Loblaw, and he remains chairman and CEO of Loblaw.
Luc Mongeau was appointed president of George Weston’s subsidiary Weston Foods, one of Canada’s lar- gest bakery companies. He joins the company after a 15-year career in a variety of executive roles at Mars, Inc.
Binning, who had been CEO of George Weston Ltd. since March 2016, has been appointed a special adviser to the Weston family’s private Wittington Investments Ltd.
Richard Dufresne remains CFO of both George Weston and Loblaw.
“While we had not expected the changes, they are evolutionary and orderly, with the net addition of Mongeau to the combined senior management and family advisory teams,” Keith Howlett, retailing analyst at Desjardins Securities, wrote in a note to clients on Thursday.
“With respect to Loblaw, financial discipline should be reinforced by the combination of Dufresne as CFO and Davis, a former CFO, as president.”