The Globe and Mail reports in its Thursday, Nov. 13, edition that Woodbridge, the primary investment vehicle for the Thomson family, has hired retail executive Michael Medline as its president and chief executive officer.
The Globe's Andrew Willis writes that Woodbridge recruited the former CEO of two family-controlled chains, Sobeys parent Empire and Canadian Tire. Last April, Mr. Medline announced plans to retire from Empire after nine years as CEO. Earlier this month, Empire promoted former chief operating officer Pierre St-Laurent into the position.
Mr. Medline will stay at Empire until the end of the year and join Woodbridge on Jan. 5. Woodbridge is the controlling shareholder of Thomson Reuters with a 70-per-cent interest in the information technology company worth approximately $60-billion.
In recent years, Thomson Reuters made several acquisitions to bolster its AI capabilities. Woodbridge also owns The Globe. "Michael Medline is a proven leader, known for his exceptional stewardship and disciplined management," Woodbridge co-chair David Thomson said in a news release. He called Mr. Medline "the ideal candidate to build upon the success of Woodbridge."
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