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Empire Company Ltd TSX: EMP-A-T

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Empire appoints Matt Reindel as Chief Financial Officer and Michael Vels as Chief Development Officer

Canada Newswire - Tue Oct 26, 6:30AM CDT

STELLARTON, NS , Oct. 26, 2021 /CNW/ - Empire Company Limited ("Empire" or the "Company") (TSX: EMP.A) today announced the appointment of Matt Reindel to the role of Chief Financial Officer ("CFO"), effective immediately. This appointment is the result of a rigorous succession planning process as the Company continues to develop the next generation of talent for key leadership roles.

Matt joined Empire in 2019 as Senior Vice President, Finance and has been responsible for Empire's operational and business support functions. An accomplished finance professional, Matt joined Empire with extensive experience from Nestlé, one of the world's largest food and beverage companies, including serving as the Chief Financial Officer of Nestlé Nutrition North America, in the US, for six years. Prior to that he was the Head of Finance for Nestlé Food Services for Asia , Oceania and Africa , based in Singapore . Matt's international finance experience also includes several years in Switzerland and the U.K.

"Over the last two years with Empire, Matt has established himself as a strong strategic leader with an ability to execute," said Michael Medline, President and Chief Executive Officer, Empire. "His extensive experience in consumer-packaged goods and retail has been integral to our business success. Matt has been key in setting Project Horizon up for success and expertly leads our Longo's partnership. We are fortunate to have him take on this new role."

Matt will report to Michael Medline and join the Empire Executive Committee.

As part of this leadership transition, Mike Vels has been appointed as Chief Development Officer. As Empire continues to plan for its future growth, Mike will focus his leadership talents towards delivering growth targets and improvements in internal execution. Mike will continue to lead Empire's real estate, technology and enterprise project management teams. He will also continue to contribute to long-term strategic planning for Empire and lead any merger and acquisition work the Company undertakes.

"I am thrilled that Mike Vels will continue in this new leadership role to support our long-term success at Empire. This transition tremendously increases our bench strength on the Executive Team. Leveraging Mike's extensive experience in this new role will enable us to focus on our growing ambitions post Horizon and deliver strong and consistent shareholder value and earnings growth," said Michael Medline. "I have such respect and confidence in Mike's leadership and dedication to our business. He has been instrumental in delivering Project Sunrise and has been a key member of our executive team, launching and steering the execution of Project Horizon."

Mike will continue to report to Michael Medline and serve on the Empire Executive Committee.

ABOUT EMPIRE

Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia . Empire's key businesses are food retailing, through wholly-owned subsidiary Sobeys Inc., and related real estate. With approximately $28.5 billion in annual sales and $15.9 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 134,000 people. Additional financial information relating to Empire, including the Company's Annual Information Form, can be found on the Company's website at www.empireco.ca or on SEDAR at www.sedar.com .

SOURCE Empire Company Limited

Cision View original content: http://www.newswire.ca/en/releases/archive/October2021/26/c9963.html

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