Ousted Loblaw President Receiving $19 Million

TORONTO -- John Lederer, ousted as president of Loblaw Cos. here in September, walked away with more than $19 million (U.S.), a proxy statement filed last week by the retailer showed.

TORONTO -- John Lederer, ousted as president of Loblaw Cos. here in September, walked away with more than $19 million (U.S.), a proxy statement filed last week by the retailer showed. The compensation included about $10.4 million in severance payments and stock options worth around $8.6 million, the filing said. Lederer served Loblaw for more than 30 years but resigned “by mutual consent” in September after a pattern of mis-steps surrounding a supply chain initiative.

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