Loblaw president Sarah Davis is retiring May 6, the company announced Tuesday morning.
Davis will be succeeded by executive chairman, Galen G. Weston, who will become chairman and president in addition to his current role as Chairman and CEO at George Weston Limited.
In a press release, Weston said he and Davis agreed now was the right time for her to pursue an early retirement given recent shifts in the company’s strategic focus.
(George Weston Ltd. announced Tuesday it would be selling Weston Foods to focus on retail and real estate. The company owns a majority stake in Loblaw Companies Limited and a large interest in Choice Properties Real Estate Investment Trust.)
"Sarah has made an invaluable contribution to the company and I appreciate her leadership over the last 14 years,” he said. “Her authentic, understated style, and commitment to the potential of others, have been hallmarks of her time with Loblaw. She has been an advisor and friend to many, especially to me. We wish her well."
Davis joined Loblaw in 2007 as controller, and served as chief financial officer from 2010 to 2014. She was then appointed chief administrative officer, responsible for supply chain, human resources, information technology, process and efficiencies, real estate and strategy.
In January 2017, she was appointed president of Loblaw Companies, becoming the most senior woman in the leadership ranks of a major Canadian grocery retailer. That same year, Canadian Grocer named Davis one of its Star Women in Grocery.
Davis has overseen some of the most transformative programs in the company’s recent history, including the implementation of SAP, the creation of Choice Properties REIT and the acquisition of Shoppers Drug Mart.
"After 14 years at Loblaw, I am immensely proud of what the company has accomplished during my time here and look forward to the next chapter," said Davis.
The company also announced Robert Sawyer would join Loblaw as chief operating officer and Richard Dufresne, president and chief financial officer of George Weston Limited would expand his role to include CFO of Loblaw.
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