Retail News Breaks
Loblaw names Shoppers Drug Mart integration executive
September 30th, 2013
BRAMPTON, Ontario – Loblaw Cos. has appointed veteran company executive Mark Butler to lead the integration of Shoppers Drug Mart Corp.
In the newly created role, Butler will serve as executive vice president of integration. Most recently, he was executive vice president of Loblaw's Conventional Division.
Loblaw, Canada's largest supermarket retailer, announced in July that it plans to acquire Shoppers Drug Mart, Canada's biggest drug chain, for $12.4 billion (Canadian). The deal is still pending approval from the Competition Bureau but earlier this month was cleared by the Ontario Superior Court of Justice (Commercial List) just days after Shoppers Drug Mart shareholders gave the green light to the acquisition in a special meeting.
With Loblaw for 37 years, Butler will have responsibility for planning the integration of Shoppers Drug Mart and, following completion of the transaction, will lead the team charged with delivering synergies, the company said.
"Mark Butler is a seasoned operator with deep expertise and relationships in the key areas we have targeted for synergies," Loblaw Cos. president Vicente Trius said in a statement. "We are committed to achieving the targets we have outlined, and I am confident that Mark and his team will deliver on those objectives."
Taking over Butler's post as executive vice president of the Conventional Division is Garry Senecal. Loblaw said Senecal will continue to lead the company's health and wellness team, which includes Loblaw's current pharmacy, optical and Natural Value offerings. He brings to the company more than 22 years of Canadian and international store operations, merchandising, brand and marketing experience.
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