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Loblaw CEO Galen Weston’s compensation jumps 55 per cent to $8.4M

Galen Weston, Chairman and President of Loblaw Companies Limited, waits to appear as witnesses at the Standing Committee on Agriculture and Agri-Food investigating food price inflation in Ottawa, Wednesday, March 8, 2023. Regulatory filings show Weston took in $8.4 million in total compensation last year in his role at the head of Loblaw Companies Ltd. THE CANADIAN PRESS/Spencer Colby The Canadian Press

By Christopher Reynolds and Rosa Saba, The Canadian Press

Posted April 5, 2023 4:32 pm.

Last Updated April 5, 2023 5:01 pm.

Galen Weston took in $8.4 million in total compensation in the 2022 fiscal year in his role at the head of Loblaw Companies Ltd.

Meanwhile, Empire Company Ltd. CEO Michael Medline took in $8.7 million, while Metro Inc. CEO Eric La Flèche earned $5.4 million.

But Weston’s Loblaw compensation isn’t the full picture, as he is also head of the George Weston Ltd. holding company.

His total compensation reached $11.7 million in 2022, a nearly $1.1-million increase from the year before.

While Weston’s Loblaw compensation jumped significantly year over year, a 56 per cent increase compared with smaller increases received by his competitors, he was also promoted to the top leadership role mid-2021, which muddies the comparison between his 2022 and 2021 compensation.

The grocery chain heads have come under increasing scrutiny amid runaway food inflation, telling a parliamentary committee last month that higher prices were not caused by profit-mongering and that their margins on food sales have remained low.

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