TORONTO, March 2, 2016 /PRNewswire/ - George Weston
Limited (TSX:WN) announced today the appointment of Galen G. Weston as a director and non-executive
Deputy Chairman of the Company. Mr. Weston is Executive
Chairman and President of Loblaw Companies Limited and
non-executive Chairman of Choice Properties Real Estate Investment
Trust. He will continue to lead Loblaw with no change in his
responsibilities. The appointment fills a pre-existing
vacancy on the Board.
W. Galen Weston remains as
Executive Chairman of the Company. Mr. Weston will continue
to lead the Board of Directors and provide strategic advice and
counsel to management in executing on the strategic initiatives set
by the Board.
The Board also announced that it will be recommending the
election of Alannah Weston and
Christi Strauss as directors at the
upcoming Annual General Meeting of the Company to be held on
May 10, 2016, following the impending
retirements of John Lacey and
Anthony Graham from the Board.
Alannah Weston is Deputy Chair of
Selfridges Group.
Christi Strauss is a former
executive of General Mills who served as President of General
Mills Canada and subsequently as
President and CEO of Cereal Partners Worldwide, a joint venture
between General Mills and Nestle.
W. Galen Weston also announced
that Paviter S. Binning, President,
has assumed the additional position of Chief Executive Officer of
the Company. As President and CEO, Mr. Binning has overall
responsibility for the management of the Company.
In commenting on these changes, W. Galen
Weston said "I thank both John and Tony for their many years
of exemplary service as directors and the valuable contributions
they have made to our Board. Christi
Strauss will bring valuable experience and insight to the
Board, given her extensive global experience in the food
business. And I am personally delighted that Galen has joined
the Board today and that Alannah will do so at the Annual General
Meeting, continuing our tradition of strong family
representation. Our three new directors and the rest of the
Board look forward to working with Pavi and his leadership
team. Pavi is an accomplished leader and he has played a
pivotal role in shaping the Company's strategic direction since
joining the Company."
Further information relating to these changes will be provided
in the management proxy circular of the Company, which is
anticipated to be available to shareholders in late March of this
year in advance of the Annual General Meeting of Shareholders.
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 retailer and provides Canadians with grocery, pharmacy,
health and beauty, apparel, general merchandise, banking, and
wireless mobile products and services.
SOURCE George Weston Limited