STELLARTON, NS, April 26, 2017 /CNW/ - Empire Company Limited
("Empire") today announced two appointments to its senior executive
ranks.
Michael Vels has been named
Executive Vice President & Chief Financial Officer of Empire
and its wholly-owned subsidiary Sobeys Inc. effective June 12th, 2017.
Mr. Vels was most recently Chief Financial Officer of Hydro One
where he played an instrumental role in that organization's Initial
Public Offering in 2015, laying the foundations for transformation
of Hydro One from a crown corporation to a customer focused,
commercial investor owned electrical utility. From 2004-2014, he
served as Maple Leaf Foods' Chief Financial Officer where he led
the company's finance, mergers and acquisitions, information
technology and communications functions, supporting the successful
transformation of Maple Leaf as it implemented new systems,
invested in manufacturing and supply chain initiatives, and
finally, in 2014 as Chief Transition Officer led the restructuring
of senior management and back office functions.
"I am thrilled to welcome Mike
Vels to Empire. He is an accomplished executive, one of the
country's most respected CFOs and a highly results-oriented
leader," said Michael Medline, President & CEO of Empire. "He
is uniquely qualified for his new role as he understands the
Canadian food business and has served on the front lines of
important and successful corporate transformation
initiatives."
Mr. Vels was educated and earned his Chartered Accountant
designation in South Africa, and
prior to joining Maple Leaf Foods in 1991 worked in public
accounting and mergers and acquisitions in South Africa and the United Kingdom.
Clinton Keay who has served as
Interim Chief Financial Officer since July
2016 will assume the role of Executive Vice President,
Technology and Lead of the Transformation Office, overseeing the
company's efforts as it moves to restructure the way it does
business. Mr. Keay served as the company's head of IT from
2002-2014 before being appointed Executive Vice President, Finance.
He will continue to report to Mr. Medline and serve on the
company's Leadership Committee.
"Clinton is an accomplished leader and is knowledgeable on all
fronts of our business. His deep experience in technology and in
overseeing important change in our organization will ensure that we
drive innovation that will delight our customers. I want to thank
Clinton for the superb job he did as Interim CFO during some trying
times," said Mr. Medline.
ABOUT EMPIRE
Empire Company Limited (TSX: EMP.A) is a
Canadian company headquartered in Stellarton, Nova Scotia. Empire's key
businesses are food retailing and related real estate. With
approximately $24.3 billion in
annualized sales and $8.7 billion in
assets, Empire and its subsidiaries, franchisees and affiliates
employ approximately 125,000 people.
Additional financial information relating to Empire, including
the Company's Annual Information Form, can be found on the
Company's website at www.empireco.ca or on SEDAR at
www.sedar.com.
ABOUT SOBEYS
Proudly Canadian, with headquarters in
Stellarton, Nova Scotia, Sobeys
has been serving the food shopping needs of Canadians since 1907. A
wholly-owned subsidiary of Empire Company Limited (TSX: EMP.A),
Sobeys owns or franchises approximately 1,500 stores in all 10
provinces under retail banners that include Sobeys, Safeway, IGA,
Foodland, FreshCo, Thrifty Foods, and Lawton's Drug Stores as well
as more than 350 retail fuel locations. Sobeys, its franchisees and
affiliates employ more than 125,000 people. The company's purpose
is to help Canadians Eat Better, Feel Better and Do Better. More
information on Sobeys Inc. can be found at
www.sobeyscorporate.com.
SOURCE Empire Company Limited