Canada-based retailer Loblaw Companies Limited and its parent company George Weston Limited have announced the appointment of Per Bank as the new president and chief executive officer (CEO) of Loblaw. Bank, who is currently the outgoing CEO of Salling Group A/S, will formally join Loblaw by the first quarter (Q1) of 2024.

The appointment comes after a global talent search that was initiated in August 2022, in anticipation of Robert Sawyer’s planned retirement as Loblaw’s chief operating officer (COO) at the end of 2023.

Upon taking up the role of president and CEO, Bank will be responsible for Loblaw’s day-to-day operations and will report to Loblaw’s board of directors. Galen G Weston will continue as chair of the Loblaw board of directors, as well as chair of the board of directors and CEO of parent company, George Weston Limited, where he will play an active role in setting the strategy for the group. Richard Dufresne will continue as Loblaw’s chief financial officer and president and chief financial officer of George Weston Limited.

Robert Sawyer, the current COO, will remain in his position until the end of the year, helping to deliver Loblaw’s 2023 plan while setting up a successful transition for Bank, Loblaw and George Weston said in a joint press release.

Bank has an impressive 30-year career in retail, with deep expertise in retail operations and supply chain. He has been instrumental in the success of Salling Group A/S, a leading retailer in Denmark.

“Over the past two years, we have strengthened the foundations of the company. Our management team is exceptional, and our 220,000 colleagues continue to deliver for our customers every day,” said Galen G Weston. “In Per we have found a world-class retail executive to help us build from that position of leadership and strength, and to continue on that journey.”

“Loblaw is admired worldwide for its sound values, long history of innovation, and the strong execution that has made the company what it is today,” said Bank. “I am truly excited to join the team and build on the ongoing success of my future colleagues.”

Fibre2Fashion News Desk (DP)

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