Loblaw Companies announced today (Thursday 21 January) that Sarah Davis, executive vice-president of finance, will become chief financial officer of the company effective 5 May 2010.
Bob Vaux, currently chief financial officer of both Loblaw Companies and George Weston, will continue as chief financial officer of George Weston Limited.
“Sarah is an extremely qualified finance executive who has demonstrated her broader capabilities since joining our management team,” said Loblaw’s Allan Leighton, president and deputy chairman. 'Her skill sets will be valuable to us as we complete our turnaround and beyond.”
Upon accepting the appointment, Ms Davis said, “I look forward to this opportunity and am pleased to be taking over the financial oversight of a company with such a solid financial position and strong balance sheet.”
Over the next three months Ms Davis and Mr Vaux will be working on a smooth transition. Ms Davis, who joined Loblaw in June of 2007, has more than 20 years of financial management experience gained from senior financial positions at publicly-traded Canadian companies in the telecommunications industries.
