STELLARTON 鈥� Empire Co. Ltd. says chief executive Michael Medline plans to retire from the company in May 2026.
Medline joined Empire in January 2017 and led the company that owns Sobeys and other grocers through two successive transformation initiatives that saw it simplify its structure, grow sales and streamline costs.
He also steered the company through the headwinds of a global pandemic and the worst inflation in four decades, said board chair Jim Dickson in a press release on Thursday.
"Not only did he lead the difficult transformation and turnaround of what at the time was a struggling business, he has since steered Empire on its current growth trajectory."
Medline said in a statement that the job has been the highlight of his career and it has been an honour to help lead the company.
Under Medline's leadership, Empire acquired the Farm Boy chain in 2018 and Longo's in 2021, while also expanding its FreshCo discount banner into Western Canada. Amid the pandemic-driven acceleration of online grocery shopping, Empire invested in its e-commerce business Voil脿.
"Since his appointment in January 2017, Mr. Medline has played a pivotal role in the transformation of Empire," wrote RBC analyst Irene Nattel in a note.
She added that after all the change and growth he has overseen at the company, "the time is ripe for Mr. Medline to enjoy the fruits of his labour."
The company says since 2017, Empire has delivered annual adjusted earnings per share growth of 15 per cent and its share price has tripled.
Medline was also the first major grocery executive to call for a grocery code of conduct to level the playing field for Canadian grocers and suppliers, drawing on similar codes in the U.K. and Australia.
The code comes into force in June after years of discussion among industry leaders, and amid pressure from the government on the country's biggest grocers to sign on to the code.
Empire says its board of directors has created a special committee to oversee the identification and selection of the company's next CEO.
Veritas senior investment analyst Kathleen Wong agreed that Medline was instrumental in the company's transformation.
"One of the major decisions the new CEO will have to make is when or whether to proceed with the opening of the fourth central fulfilment centre in B.C.," she noted in a statement. "The company paused building it because of weaker-than-expected online grocery sales and poor returns on investment."
Empire announced it was pausing the opening of the centre last year, saying the grocery e-commerce market was smaller than expected.
This report by The Canadian Press was first published April 24, 2025.
Companies in this story: (TSX:EMP.A)
The Canadian Press
