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Bloomberg Businessweek reports that Empire Co. CEO Paul Sobey plans to retire from his position in December, to be succeeded by Marc Poulin, current CEO of Empire’s grocery chain, Sobeys.

Poulin plans to continue serving as CEO of the Sobeys chain, as Sobey plans to remain as an Empire company director.

The story notes that "Sobey retires after leading the company’s acquisition of Canada Safeway Ltd. amid intense competition from domestic rivals such as Loblaw Cos. and Metro Inc., as well as foreign brands including Wal-Mart Stores Inc. The CEO is the son of David Sobey, chairman emeritus of Sobeys, and grandson of Frank Sobey, who expanded his father’s original meat-delivery business into a countrywide chain of grocery stores."
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