Galen G. Weston, executive chairman of Loblaw Cos., has succeeded his father W. Galen Weston as chairman of the retailer's parent company, George Weston Ltd., the company said Wednesday.
W. Galen Weston, 75, will continue as chairman emeritus of the family-controlled holding company, parent of Canada's largest grocery chain and leading food processor.
Galen G. Weston, 43, represents the fourth generation of leaders of the company.
W. Galen succeeded his father in assuming executive control of the company in 1974. During his tenure, he took what the company called "a sprawling portfolio" and focused on remaking Loblaw into Canada's top retailer, and building Weston into one of North America's largest food processing companies. He oversaw the introduction of some of Canada's most innovative brands and retail concepts, including President's Choice private brands, the Joe Fresh apparel brand, and the No Frills and Real Canadian Superstore store concepts.
The Weston Foundation and the Weston Group of Companies together have donated more than half a billion dollars to the benefit of Canadian communities.
"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," said W. Galen Weston in a statement. "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."
Galen G. Weston has been executive chairman of Loblaw since 2006 and deputy chairman of George Weston Ltd. since March of 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," Galen G. Weston said. "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."