Ex-Loblaws Exec Joins Zellers as C.E.O.

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Ex-Loblaws Exec Joins Zellers as C.E.O.

Just months after he departed Loblaw Cos., Ltd. in an executive shuffle reportedly driven by tough competition from the likes of Wal-Mart, Mark Foote has become c.e.o. of discount chain Zellers, Inc.

Foote will start at Zellers Aug. 11, according to a press report.

Zellers' parent, Hudson's Bay Co., was acquired two weeks ago by a U.S. owner who wants to revitalize the business, which is also facing competition from Wal-Mart.  The hiring of Foote is key to that plan, the Toronto Globe and Mail reported.

Foote was formerly president and chief merchandising officer at Loblaws, but left suddenly in April after two years, as a result of what has been termed a management shakeup at the grocer. E.v.p. general merchandise Frank Rocchetti succeeded him at Loblaws.

Before his brief stint at Loblaws, Foote served for more than 20 years at Canadian Tire Corp., where he eventually rose to president of the retail division.