Sobey to Retire as Empire CEO
Paul D. Sobey, president and CEO of Empire Co., parent company of Sobeys, plans to retire from his position effective Dec. 11. He will be succeeded by Marc Poulin, current president and CEO of Sobeys Inc.
“With the imminent closing of the Canada Safeway acquisition, Empire will be a truly operationally-focused, leading grocery retailer in this country,” Sobey said. “As such, the time is right for the transition of leadership.”
Sobey, a 32-year Empire employee, has served as president and CEO since 1998. He will continue as director of the company.
Poulin, who joined Sobeys in 1997, will remain as president and CEO of Sobeys Inc. He was president of Sobeys’ Québec division for 11 years prior to his appointment as president and CEO of Sobeys in June 2012.
“I am very pleased that the board has appointed Marc Poulin to succeed me,” continued Sobey. “Marc has been a major contributor to Sobeys’ success and is extremely well positioned and ready to lead Empire as we integrate and capitalize on this new and exciting platform for growth.”
“On behalf of the board, I thank Paul Sobey for his extraordinary accomplishments as CEO and throughout his 32-year career at Empire,” said Rob Dexter, chair of Empire Co.’s board of directors. “Under his leadership, the company has transformed from a regional food retailer with other diversified operational investments and under $3 billion in sales, to a truly operationally-focused, national food retailer with pro-forma sales of $24 billion.”
With over $17 billion in annual sales and approximately $7.1 billion in assets, Nova Scotia-based Empire and its subsidiaries employ approximately 47,000 people.