George Weston Limited and Loblaw Companies Limited announced the appointment of Mr. Per Bank as President and Chief Executive Officer of Loblaw. Mr. Bank will formally join the company by First Quarter 2024. The appointment follows a global talent search initiated in August 2022 in anticipation of Robert Sawyer's planned retirement as Loblaw's Chief Operating Officer at the end of 2023.

It comes after two years of superb performance at the company as it executed against a strategy anchored in retail excellence. Mr. Bank is a 30-year career retailer with deep expertise in retail operations and supply chain. He is the outgoing Chief Executive Officer of Salling Group A/S, the retailer in Denmark, with 1,700 multi-banner supermarkets across three countries, supported by strong e-commerce, loyalty, and private-brand programs, and having one of Denmark's private-sector workforces.

Upon commencing the role of President and Chief Executive Officer, Mr. Bank will be responsible for Loblaw's day-to-day operations, and he will report to Loblaw's Board of Directors. Galen G. Weston will remain Chair of the Loblaw Board of Directors, as well as Chair of the Board of Directors and Chief Executive Officer of parent company, George Weston Limited – where he will play an active role setting the strategy for the group. Richard Dufresne will continue as Loblaw's Chief Financial Officer and President and Chief Financial Officer of George Weston Limited.

Robert Sawyer will remain as Chief Operating Officer until the end of the year, helping to deliver Loblaw's 2023 plan while setting up a successful transition for Mr. Bank.