The parent company of Loblaws, Shoppers Drug Mart and other chains has hired Per Bank—the outgoing CEO of Salling Group A/S, Denmark’s largest retailer with 1,700 supermarkets—as CEO and president starting in the first quarter of 2024. (The Logic)

Talking point: Weston, who is currently Loblaw chair and president, will stay on as chair. He will also remain CEO and chair of its parent company, George Weston, where he “will play an active role setting the strategy for the group.” Loblaw started searching for a new executive in August 2022 as chief operating officer Robert Sawyer plans to retire at the end of this year. Weston resumed the president and chair role in May 2021, after his successor Sarah Davis retired. Today’s change was largely expected, Scotia Capital analyst George Doumet wrote in a note, and Bank’s past and future roles are similar. Both Loblaw and Salling Group are multi-banner; successfully operate e-commerce, loyalty and private brand programs; and are family businesses that have grown into large retailers.