Canada's largest supermarket chain, Brampton-based Loblaw Co., has been quick to replenish its stock of senior management after three key administrators resigned from the ailing company on Monday.
Galen G. Weston, Loblaw Executive Chairman, announced deputy chairman Allan Leighton will also act as company president.
Bob Vaux, chief financial officer of George Weston Limited, will take on the added responsibility of interim CFO of Loblaw Companies Limited until further notice.
William Wells, chief financial officer will take up a position as Chief Executive Officer of Mississauga pharmaceutical firm Biovail.
Frank Rocchetti, executive vice president General Merchandise will succeed Mark Foote as the Chief Merchandising Officer.
Executive Vice President Pietro Satriano will also be leaving the company.
"Mark, Bill and Pietro have made substantial contributions over their respective tenures and I wish them well," Weston said in a statement.
In an effort to compete with Wal-Mart, Loblaws began operating larger locations that carried non-food products like TVs to patio sets and clothing.
Loblaws has since dropped many products to focus on housewares, health and beauty and its Joe Fresh line of clothing.
In January 2007, Loblaws announced it would slash 15 per cent of head office and regional management staff, or between 800 and 1,000 people.
Officials said the decision to make a change at the top levels of the firm is crucial as Loblaws seeks to reinvent itself.
"At this crucial juncture, we require more focus and clarity in our leadership structure," Leighton added. "These changes will provide this."