PRESS RELEASE: APRIL 21, 2008

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Loblaws Announces Executive Changes 

Galen G. Weston, Executive Chairman, announced today that Allan Leighton, Deputy Chairman will become President and continue as Deputy Chairman of the Company.

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.

Frank Rocchetti, Executive Vice President General Merchandise will succeed Mark Foote as the Chief Merchandising Officer, reporting to Allan Leighton.

Mark Foote, President and Chief Merchandising Officer will be leaving the Company as of today’s date.

William (Bill) Wells Chief Financial Officer will also be leaving the Company to take up a position as Chief Executive Officer of Biovail of which he is already an Outside Director.

Pietro Satriano, Executive Vice President Food, will be leaving the Company as of today’s date.

Galen Weston said, "Allan Leighton is a highly experienced food retail executive and I look forward to working closely with him to complete the turnaround. Mark, Bill and Pietro have made substantial contributions over their respective tenures and I wish them well."

Allan Leighton added, "At this crucial juncture, we require more focus and clarity in our leadership structure. These changes will provide this."

 

 

 

 

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