The Globe and Mail reports in its Wednesday edition that Metro chief executive officer Eric La Fleche will retire at the end of September, handing the top spot to current chief operating officer Marc Giroux. The Globe's Nicolas Van Praet writes that Mr. La Fleche will stay on as chair of the board to support a smooth and orderly transition. Current chair Pierre Boivin will be named vice-chair and lead director. The leadership changes, effective Sept. 27, result from a multiyear succession planning process aimed at ensuring strong governance and long-term value creation. The changeover occurs amid challenges for Metro and industry rivals. Higher fuel prices from geopolitical conflicts are driving up food production and transportation costs, as more Canadian shoppers are turning to discount stores. "Mr. Giroux has generally been regarded by the investment community as the natural successor to Mr. La Fleche," BMO analyst Etienne Ricard said in a note. "We expect a smooth transition and continuity of strategy," he said, noting the COO has been in his current role for four years and at Metro since 2009. The average tenure of CEOs with Canadian companies in the S&P/TSX 60 has remained steady since 2021 at about seven years.