Per Bank Joins Loblaw as CEO in Q1 2024
George Weston Limited (TSX: WN) and Loblaw Companies Limited (TSX: L) have announced the appointment of Per Bank as Loblaw’s President and Chief Executive Officer, effective Q1 2024. The decision comes after a comprehensive global talent search, launched in August 2022, to find a successor for the retiring Robert Sawyer, Loblaw’s current Chief Operating Officer.
Building on a Strong Foundation for Retailing
Galen G. Weston, Chair of Loblaw and George Weston Limited, expressed confidence in Bank’s ability to further strengthen the company’s leadership and retail excellence. Under Weston’s guidance, Loblaw has cultivated a strong management team and successfully executed a customer-focused strategy.
Per Bank’s Background and Expertise in Retail
Per Bank brings with him 30 years of retail experience, including his tenure as CEO of Salling Group A/S, Denmark’s largest retailer. He has a deep understanding of retail operations and supply chain management and has overseen the growth of Salling Group’s multi-banner supermarkets across three countries.
Leadership Changes and Continuity at Loblaw and George Weston Limited
Upon assuming the role of President and CEO, Bank will be responsible for Loblaw’s daily operations and report to the company’s Board of Directors. Galen G. Weston will maintain his roles as Chair of Loblaw and George Weston Limited, as well as CEO of George Weston Limited. Richard Dufresne will continue as Loblaw’s CFO and President and CFO of George Weston Limited. Robert Sawyer will serve as COO until the end of 2023 to facilitate a smooth transition.
A Bright Future for Loblaw under Per Bank’s Leadership
Weston praised Bank’s track record in delivering retail excellence and successful growth, highlighting the smooth transition he will provide for the company. Bank expressed his excitement to join Loblaw, a company known for its innovation, strong values, and impressive history.
With Per Bank at the helm, Loblaw is set to continue its journey of retail excellence, building on the strong foundations laid by George Weston Limited.
