Retail News Breaks
Pharmasave CEO Paish to leave company
May 11th, 2012
LANGLEY, British Columbia – Sue Paish is slated to step down as chief executive officer of Pharmasave Drugs Ltd. later this month to become CEO of LifeLabs Inc., a provider of laboratory testing services.
Pharmasave said its national board of directors has named chief financial officer Zvonko Maretic as interim CEO, effective May 30. The company added that it plans to soon begin a search for a permanent chief executive.
Paish joined Pharmasave in 2004 as a director and was appointed CEO three years later.
"The board is both proud and appreciative of Sue's contributions to our organization, and we wish her the very best as she moves forward with her new endeavor," national board chairman Gary Utter said in a statement. "Under her leadership, our organization has grown to be a respected industry leader, helping to guide public policy and communicate the value and importance of pharmacy as a means to deliver better health care to Canadians."
Pharmasave, with 448 drug stores in nine provinces and estimated sales of nearly $1.5 billion (Canadian), is North America's 11th-largest chain drug operator by revenue and the eighth-largest by store count, according to research by Racher Press, publisher of Chain Drug Review.
At LifeLabs, Paish will lead Canada's largest provider of community laboratory services. The company reportedly delivers more than 50 million lab tests to over 10 million Canadians and 20,000 doctors each year.
"Sue Paish is an effective, energetic leader with the vision and creativity that the health care sector needs," stated John Knowlton, chairman of LifeLabs and executive vice president at parent company Borealis Infrastructure. "We are excited about the future of LifeLabs and look forward to working with Sue in her new role."
Before joining Pharmasave, Paish was the managing partner at Fasken Martineau DuMoulin LLP, Vancouver's largest law firm. She was named one of Canada's Top 100 Most Powerful Women in 2005, 2010 and 2011 by the Women's Executive Network.
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