Wednesday, 14 September 2016
Toronto - W. Galen Weston has officially stepped down as executive chairman of George Weston Limited, handing the title to his son, Galen G. Weston, who becomes chairman, George Weston Ltd. while retaining his responsibilities as executive chairman and president, Loblaw Companies Ltd. Galen Weston Sr., 75, assumed executive control of George Weston Ltd. in 1974, when he succeeded his father. Over four decades as chairman, Weston oversaw the introduction of Canadian brands and retail concepts, including President's Choice, Joe Fresh, No Frills and Real Canadian Superstore. And Weston Foods is a North American leader in the baking industry, producing fresh, frozen and specialty bakery products with over 40 facilities across North America employing over 6,000 employees with brands including Wonder and Ace Bakery. "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 company release. "I have absolute confidence in my son and the George Weston Ltd. board and leadership." Succeeding his father, Galen G. Weston, 43, becomes the fourth generation of family leadership. He has been executive chairman of Loblaw since 2006 and deputy chairman of George Weston Ltd. 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," said Galen G. Weston in the company release. "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."