CANADA: Empire Announces Sudden Exit Of Sobeys CEO

Empire Co., the parent firm of Sobeys, has announced the immediate departure of Marc Poulin as CEO of both companies.

Poulin has been replaced by Francois Vimard, Empire’s CFO, on an interim basis. Vimard has also replaced Poulin on Empire’s board of directors.  The companies said they are conducting a search for the next CEO.

The move comes just days after Sobeys announced a C$2.1bn full-year loss, related to the troubled integration of the Safeway Canada stores, a deal overseen by Poulin.