STELLARTON — The Sobeys grocery chain and its parent company say their president and chief executive officer has left the organization, effective immediately.
Marc Poulin is being replaced in those roles on an interim basis by the chief financial officer of Empire Company, Francois Vimard.
Poulin’s sudden departure from the Empire organization follows a series of huge losses related to the acquisition of Canada Safeway as Sobeys expanded its position in Western Canada.
Recently, Sobeys parent company Empire reported massive fourth quarter losses of more than $2 billion for its 2016 financial year.
In 2015, the company reported earnings of $419 million in fiscal 2015.