TORONTO and BRAMPTON, ON, June 14,
2017 /CNW/ - Effective January 1, 2018, Richard Dufresne
will be appointed President, George Weston Limited (TSX:WN), retaining his current CFO responsibilities, and continuing to report
to Galen G. Weston, Chairman and CEO, George Weston Limited and Loblaw Companies Limited (TSX:L,
"Loblaw"). Over the next few months, he will transition out of his parallel role as CFO of Loblaw Companies Limited. As part of
this transition, Darren Myers will join Loblaw on September 1 as
Executive Vice President, Finance, reporting to Richard Dufresne, and on January 1, 2018, he will be appointed Chief Financial Officer, Loblaw Companies Limited, reporting to
Galen G. Weston.
"Richard has made an enormous contribution in his time as CFO of both Loblaw and George Weston,
including his role in the creation of Choice Properties REIT, the acquisition of Shoppers Drug Mart, and the subsequent
realization of synergies," said Weston. "He has been a thoughtful and decisive contributor to the management board and I look
forward to continuing to work closely with him in his new role as President and CFO, George Weston Limited.
"In Darren, we have found an excellent financial executive, with experience in a broad and complex business. He brings with
him both a commitment to exceptional performance, and to values consistent with our own culture journey. His perspective will be
a valuable addition to our Loblaw management board."
Richard Dufresne joined George Weston Limited in 2012 and Loblaw in 2014, holding parallel
responsibilities as CFO at both companies. This followed prior experience as CFO at a large food distributor and a career in
investment banking.
Darren Myers joins Loblaw from Celestica where he was most recently Executive Vice President
and CFO, building on prior finance roles in the organization, and with Bell Canada and
PricewaterhouseCoopers.
About George Weston Limited
George Weston Limited is a Canadian public company founded in 1882 and through its operating subsidiaries constitutes one of
North America's largest food processing and distribution groups. George Weston Limited has two
reportable operating segments: Weston Foods and Loblaw, which is operated by Loblaw Companies Limited. The Weston Foods operating
segment is primarily engaged in the baking industry within North America. Loblaw is
Canada's largest food distributor and a leading provider of general merchandise, drugstore and financial products and
services.
About Loblaw Companies Limited
Loblaw Companies Limited is Canada's food and pharmacy leader, the nation's largest retailer, and the majority unitholder of
Choice Properties Real Estate Investment Trust. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel,
general merchandise, banking, and wireless mobile products and services. With more than 2,300 corporate, franchised and
Associate-owned locations, Loblaw, its franchisees, and Associate-owners employ approximately 192,000 full- and part-time
employees, making it one of Canada's largest private sector employers.
SOURCE Loblaw Companies Limited
View original content: http://www.newswire.ca/en/releases/archive/June2017/14/c3209.html