George Weston Limited’s board of directors found through a strategic review that the company’s retail and real estate businesses will drive the most significant long-term value. (The Logic)
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George Weston Limited’s board of directors found through a strategic review that the company’s retail and real estate businesses will drive the most significant long-term value. (The Logic)
Talking point: The namesake bakery division represents “a small part” of George Weston’s overall value, the company said, and the sale process will begin shortly. The firm, along with Loblaw Companies, also announced Loblaw’s president Sarah Davis will retire early on May 6. Galen G. Weston, currently chair and CEO at George Weston, will return to running Loblaw as chair and president. Davis was appointed Loblaw’s president in 2017, replacing Galen at the time, and given additional responsibilities in early 2019. The sale of the bakery will allow Galen to focus on the grocer “as we increase our momentum in both our bricks-and-mortar network, and our leadership in digital and data,” he said in a statement. The pandemic prompted higher-than-expected demand for online grocery shopping and pushed Canada’s major three grocers to expand their e-commerce services quickly.
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