Empire streamlines organizational structure

STELLARTON, NS, Jan. 16, 2014 /CNW/ - Empire Company Limited today announced the continued streamlining of its organizational structure to further reflect its transition to an operationally-focused grocery retailer with related real estate interests. This follows the October 2013 announcement appointing Marc Poulin as the CEO of both Empire Company Limited and Sobeys Inc.

Paul Beesley, previously the Executive Vice President & CFO of Empire, has been appointed Chief Corporate Development Officer for Sobeys Inc. In his new capacity Mr. Beesley will support the CEO in the development of strategic initiatives and growth opportunities.

Mr. Beesley, who played an instrumental role in the company's recent acquisition of Canada Safeway, will report directly to Marc Poulin.

François Vimard has been appointed Chief Financial Officer for Empire Company Limited. He will continue to serve in his current capacity as Executive Vice President, Sobeys Inc. where he has responsibility for the company's Finance, Information Technology, Distribution & Logistics, Real Estate and Legal functions. Paul Jewer, Chief Financial Officer, Sobeys Inc. will continue to report to Mr. Vimard.

Stewart Mahoney will lead the Treasury and Investor Relations functions for both Empire and Sobeys and will report to Mr. Jewer.

These appointments are effective immediately.

About Empire Company Limited
Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire's key businesses include food retailing and related real estate. With over $17 billion in annual sales and approximately $10.3 billion in assets, Empire and its subsidiaries, including franchisees and affiliates, employ more than 124,000 people.

About Sobeys Inc.
Proudly Canadian, with headquarters in Stellarton, Nova Scotia, Sobeys has been serving the food shopping needs of Canadians for 106 years. A wholly-owned subsidiary of Empire Company Limited (TSX: EMP.A), Sobeys owns or franchises more than 1,500 stores in all 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawton's Drug Stores as well as more than 330 retail fuel locations. Sobeys and its franchise affiliates employ more than 124,000 people. The company's goal is to be widely recognized as the best food retailer and workplace environment in Canada. More information on Sobeys Inc. can be found at www.sobeyscorporate.com.

SOURCE: Empire Company Limited

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Sobeys Inc.
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