W. Galen Weston is stepping down as executive chairman of George Weston Ltd., the country’s largest food processing and distribution company, and will be succeeded by his son.
The elder Weston will become chairman emeritus of the company, while his 43-year-old son Galen G. Weston, becomes chairman.
The younger Weston will retain his responsibilities as executive chairman and president of Loblaw Companies Ltd., Canada’s largest grocer.
The 75-year-old W. Galen Weston took executive control of George Weston Ltd. in 1974, when he succeeded his own father.
He says now is a good time to “create space” for the next generation, as his father had done before him.