STELLARTON, NS, July 8, 2016 /CNW/ - The Boards of Directors of Empire Company Limited (TSX: EMP.A) and Sobeys Inc. have announced that President & CEO Marc Poulin has left the companies effective immediately.
"On behalf of the Board, I would like to thank Marc for his efforts and leadership as CEO over the past four years and, prior to that, for the important role he played in developing our Quebec business," said Rob Dexter, Chair of Empire Company Limited.
François Vimard, Empire's Chief Financial and Administrative Officer, has been appointed Interim President & CEO as the company initiates an orderly succession process to identify a permanent leader. Mr. Vimard will also replace Mr. Poulin on the Empire Board of Directors.
"The Board of Directors is unanimous in its support of François Vimard's leadership as we undertake this succession process," said Mr. Dexter.
"Despite the significant challenges we have faced over the past year, the Board is confident the company is pursuing the right strategy," he continued. "It is our clear expectation that François and his strong and experienced leadership team will prioritize and advance the most critical elements of the company's strategy to ensure we meet the needs and expectations of our customers and see the return of long-term profitable growth for the company."
A Chartered Professional Accountant, Mr. Vimard brings a wealth of experience and extensive knowledge of Empire and Sobeys to his new position. He has more than 30 years of experience in the food retailing business, joining Sobeys in1995.
Clinton Keay, Empire's Executive Vice President of Finance will assume the role of Interim Chief Financial Officer.
Mr. Keay is a Chartered Professional Accountant who joined Sobeys in 1989 and held a number of progressively senior finance roles before being appointed Senior Vice President & Chief Information Officer in 2002 and Executive Vice President of Finance for Empire in 2014.
Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire's key businesses are food retailing and related real estate. With $24.6 billion in sales and $9.1 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 125,000 people.
Additional financial information relating to Empire, including the Company's Annual Information Form, can be found on the Company's website at www.empireco.ca or on SEDAR at www.sedar.com.
SOURCE Empire Company Limited
For further information: Andrew Walker, Senior Vice President, Communications & Corporate Affairs, Sobeys Inc., (905) 238-7124 ext. 6711