W. Galen Weston Steps Down as Executive Chairman of Loblaw Parent Company; Galen G. Weston Succeeds
TORONTO, ON - After nearly a lifetime of working for George Weston Limited, W. Galen Weston has announced he will be stepping down as Executive Chairman of George Weston Limited, retaining the role of Chairman Emeritus. His son, Galen G. Weston, will assume the role as Chairman while still retaining his responsibilities as Executive Chairman and President of the Loblaw Companies Limited branch.
"Following my own father's tradition of stepping down at the age of 75, I see this as a good time to create space for the next generation," shared W. Galen Weston upon the announcement. "I have absolute confidence in my son and the George Weston Limited board and leadership. I look forward to using my time to focus on the exciting opportunities ahead in our luxury business and some truly ground-breaking potential with our charitable foundation."
Following in his family's footsteps, W. Galen Weston assumed executive control of George Weston Limited from his father in 1974. During his over four decades serving as Chairman, Weston was at the helm of the introduction of such innovative brands and concepts as President's Choice, Joe Fresh, No Frills, and Real Canadian Superstore.
As outlined in a press release, the company was also able to create hundreds of thousands of jobs under Weston’s tenure, all while the Weston Foundation and the Weston Group of Companies together have worked to donate more than half a billion dollars to the benefit of Canadian communities.
Succeeding his father, Galen G. Weston is now the fourth generation of the family to oversee the brands. He has been Executive Chairman of Loblaw since 2006 and Deputy Chairman of George Weston Limited since March, 2016. W. Galen Weston's daughter, Alannah Weston, was appointed a Director on the Board earlier this year.
"Reaching a fourth generation represents unique longevity among family-led firms, and my father's success over four decades sets a high bar for the next generation of our business," explained Galen G. Weston. "We will benefit from the strong legacy traits of Weston companies, and my sister and I look forward to our father's continued guidance and support.”
As Galen G. Weston takes the reigns and leads the company into its next era of its business, AndNowUKnow will continue to report on the latest.