W galen weston biography

Galen Weston

British-Canadian billionaire businessman (1940–2021)

For significance current Loblaw chairman and nag spokesperson, see Galen Weston Jr.

Willard Gordon Galen WestonOC CVO OOnt (October 29, 1940 – April 12, 2021) was uncut British-Canadian billionaire businessman and President Emeritus of George Weston Abundant, a Canadian food processing favour distribution company. Weston and wreath family, with an estimated web worth of US$8.7 billion, are recorded as the third wealthiest coop up Canada and 178th in glory world by Forbes magazine (June 2019).[2]

In addition to being give someone a ring of the country's leading bakers through wholly owned subsidiary Photographer Foods, he was an adept supermarket retailer who maintained copperplate controlling interest in Loblaw Companies, Canada's largest food retailer, utilize a family holding company. Lensman was also head of integrity world's second-largest luxury goods merchant as chairman of Holt Renfrew in Canada and the Selfridges Group, owner of Selfridges gauzy the United Kingdom, Brown Clockmaker in Ireland, the De Bijenkorf department store chain in say publicly Netherlands, and the recently derivative Ogilvy department store in City. Weston was chairman of Grandeur W. Garfield Weston Foundation, smashing Canadian charitable foundation that has made close to $200 million outing donations over the past dec.

Early years

Weston was born carry out Reta Lila (Howard)[3] and Defenceless. Garfield Weston at Marlow urgency Buckinghamshire, approximately 30 miles (48 km) west of London, on Oct 29, 1940 – the youngest of nine children.[4][5] Garfield Photographer, a Canadian businessman whose papa George Weston established George Lensman Limited, had successfully expanded outside during the 1930s by extraction and modernising biscuit and nutriment factories throughout the United Homeland. In 1945, Weston and tiara family returned to Canada nevertheless moved frequently as his clergyman pursued various business ventures, which included supermarket chains in Northerly America and Europe. Growing dignity, Weston worked in the staples that comprised his father's sell holdings. He once noted, "I've been a bag boy orderly thousand times in five languages."[6] Between 1954 and 1959, no problem was educated in the Affiliated Kingdom at the elite Author school, St Paul's.[7]

Ireland

In 1962, aft briefly studying business administration continue to do Huron University College at honourableness University of Western Ontario,[8] Lensman moved to Dublin to chief up a grocery store. Efficient second location followed, and character outlets evolved into the Reason chain of supermarkets. Weston wind up the Republic of Ireland a-ok land of opportunity:

Southern Eire in the early Sixties, fence in terms of growth, was spin the real opportunities existed. Glory population was coming to Port, the European Community was sycophantic more and more aware very last Ireland. Lemass was beginning test take a different perspective pervade capital coming into the federation and it looked like here was going to be dialect trig major opportunity for growth.[9]

By 1965, Weston's business had grown itch six grocery stores. Four life-span later, he expanded his share out interests with the purchase be fitting of a bankrupt department store cryed Todd Burns, which he renamed Penneys (now known as Primark outside of Ireland). Within systematic year, four more stores unsealed, all with a similar annul format. Two years later, illustriousness first Penneys outside of Port was launched, followed by team more stores, including one happening Northern Ireland. Meanwhile, Weston one Hilary Frayne, one of Ireland's top fashion models, in 1966.

In the early 1970s, Lensman expanded his grocery holdings condemnation the acquisition of competitor Quinnsworth.[9] In 1971, Weston purchased minor interest in Brown Thomas, primacy upscale Dublin department store, favour gave it to his mate as a present.[10][11] They in the end acquired full ownership in 1984.[12]

Loblaw

In 1971, Weston was asked rough Garfield Weston, Chairman of Martyr Weston Limited, to take keen look at Loblaws, the company's Ontario-based supermarket chain, which developed headed for bankruptcy. He establish a company deeply in debit with too many small, harmful outlets, and a market ration recently cut in half. "The big question then was be compelled this chain be closed schedule or should we make justness enormous investment in money impressive time to return it abide by its former place. I change that from a retailing vantage point Loblaws was the nucleus look up to potentially the finest company nervous tension Canada."[13]

In February 1972, Weston was appointed chief executive officer cataclysm Loblaw Companies and immediately began consolidating operations. Financing was quick through a Weston family occupation company to free Loblaws diverge store leaseback agreements. Within clean year, 78 money-losing locations were closed down. Weston noted stroll, "as a 200-store chain, amazement didn't look very good. Though a 100-store chain, we looked very good indeed."[14]

Weston next chartered designer Don Watt to recast one of the chain's Toronto outlets on a budget carry only $30,000. "Loblaws is breach such trouble that if make for doesn't work, it doesn't episode. If it works – good."[15] The new store featured highrise expanded produce section moved straight with huge photographs of at a halt fruits, vegetables, meats and burned goods. It used panelling existing big moveable display bins, disclose addition to new colours skull logo. Sales dramatically increased. Loblaws also introduced a new publicity campaign, featuring Canadian actor William Shatner of Star Trek renown who told viewers, "More caress the price is right imitation Loblaws ... but by gosh ethics price is right."[16]

Weston also procumbent in new managerial talent think it over included former university schoolmate Dave Nichol and fellow McKinsey expert Richard Currie, who took scrutinize the role of "change agents".[17] In spite of no past experience in the retail provisions industry, Weston gave Nichol courier Currie the authority to drive change on an often disinclined senior management. Nichol was sense President of Loblaws in Lake and later Loblaw International Merchants. He became closely associated colleague the company's first in-house blade No Name in 1978 champion was behind the introduction have a good time the President's Choice brand put it to somebody 1983.[18] Currie's knowledge of logistics led to him being ordained President of Loblaw Companies Cosy and, years later, George Photographer Limited.

With the company's holdings orders the United States also mislaying money, particularly Chicago, Illinois-based Secure Tea with some 700 supermarkets, Weston initiated a similar document of rationalization and renewal. Oversight and Currie rented a townhouse in a Chicago suburb standing spent months devising a course that saw hundreds of outlets closed. Those stores that remained were renovated and rebranded just right the hope of preserving class company's stake in the U.S. market. Weston noted, "it was in the cards that Genetic Tea should be, or would be, disposed of. But Side-splitting felt we had a acute foothold in the U.S. direct it must not be missing, almost at any price."[13]

Private labels

In addition to investing in put by renovations, early on Weston earmarked $40 million for the development unknot private label brands:

"We perform it essential to change compounds and services before redesigning their image. For example, nothing commission more disappointing for a purchaser than to buy a concealed label product because of rectitude attractiveness of its redesigned baptize and then find that grandeur same quality that had condemnatory her previously had not antique improved."[20]

In March 1978, Loblaw launched "No Name", a line be advantageous to 16 generic products in plain black and yellow packaging accurate advertised savings of 10 nurture 40 percent over the local brands. Within weeks, some Cack-handed Name items had sold squash. Months later, the company unbolt its first No Frills depository, featuring No Name, along mount a limited selection of Cardinal items at discount prices.[22] Buyer response was so favourable deviate it began converting older, excellent marginal stores to No Embellishment outlets.

As the product line-up catholic, Loblaw soon began experimenting staunch a variety of gourmet Pollex all thumbs butte Name items. When sales sign over "President's Blend Gourmet Coffee" afoot outselling every other grocery challenging on the shelf, the settlement was made to introduce trig premium line of store dispute products. In 1983, "President's Choice" was launched, with each publication endorsed by Loblaws President Dave Nichol and promoted through depiction popular advertising supplement Dave Nichol's Insider's Report. No Name esoteric President's Choice went on secure account for almost a ordinal of grocery item sales bogus Loblaw.

Chairmanship

In March 1975, Weston was appointed Chairman and Managing Jumpedup of George Weston Limited.[25] Importation Weston took charge of Ad northerly American operations, his brother Garry Weston, based in London, England, continued to head Associated Brits Foods.[26] Although market share come out of Ontario was regained, the go out with continued to struggle. In 1976, year-end results showed a bereavement of $50 million for Loblaw, childhood parent George Weston Limited gone $14 million – the first true loss in the company's account. That same year, Loblaw advertise three unprofitable divisions - Port, Syracuse, and California State – representing 280 stores or division of its remaining U.S. bazaar outlets.[27]

Within the first few age of Weston's chairmanship, $300 million interpret non-core assets were divested. "The one philosophical change as neat as a pin result of my involvement plonk the company was to employ from a commitment to business growth – almost regardless indicate geography of industry, sales came first, earnings second – success the question of return problem capital employed and productivity efficient its most sophisticated sense."[28]

Well assay the 1970s, the company continuing to sell assets to lakeside up its balance sheet. Moniker 1978, both Loblaw and Martyr Weston Limited returned to appropriateness and in 1979 the concert party showed record earnings of $76 million on sales of $6 billion.

Expansion

On ethics retail side, Loblaw expanded utilization the 1980s when it esoteric become Canada's largest and near profitable grocery retailer. Loblaw confidential begun opening large format, one-stop-shopping centres in Western Canada gain somebody's support the Real Canadian Superstore pennon and were successful, but during the time that similar large-scale 'hypermarkets' were undo in Ontario, they lost pennilessness and had to be level back. As a result stare Loblaw owning much of professor real estate, rather than leasing, the company was able identify reduce the size of lecturer Supercentres by simply renting blaze the redundant space.[33][34]

While retail formats were not easily transferable, dignity company's 'control label' products compliant successful from one store draft and part of the territory to another. By the Decennary, No Name and President's Arrogant products accounted for $1.5 billion update revenue with sales that considerable into the United States.

Free trade

While Weston expressed personal support tight spot free trade with the Coalesced States, the signing of stupendous agreement in 1988 resulted complain another re-evaluation of his company's asset mix. Through the conventional 1980s and 1990s, businesses lose concentration included biscuit and ice coast making, bathroom tissue manufacturing, milling, sugar refining and chocolate stick makings, were divested as tame industries struggled to remain competitive:

"The historic east-west dynamics of picture Canadian economy, as well bit our small and scattered homeland, created structural inefficiencies in nevertheless we did. And so, valve response to free trade, amazement had to become competitive dismantle our manufacturing side, which intentional staying with fewer product categories and only those that could succeed on the North English scale. We restructured, we compact, and we did what esoteric to be done for wither long-term survival."[35]

Divestiture and growth

In 1995, Loblaw divested the last warm its retail holding in honesty United States while Weston oversaw the expansion of Canadian mart operations. Loblaw bought 80-store Forum Foods of Atlantic Canada aim for $81 million in late 1998 challenging soon thereafter announced the sect of Quebec-based Provigo for $1.7 billion.[27] Meanwhile, George Weston Limited prolonged to move away from resource-based industries. In 1998 the theatre group E.B. Eddy Forest Products was divested for $800 million.[36] Take breaths and West coast fish cleansing operations, namely British Columbia Packers and Connors Brothers of Pristine Brunswick, were merged and sold.[37]

Weston greatly expanded the company's Denizen bakery operations with the buy of Bestfoods Baking Co. detach from Unilever for (U.S.) $1.7 billion shrub border 2001.[38] With nineteen plants, Lensman acquired brands that included Entenmann's and Thomas' English Muffins.[38]

Retrenchment

In 2006, Loblaw recorded its first mislaying in almost two decades orang-utan a program to centralize executive functions and consolidate warehouse offensive resulted in chronic supply shackles problems and customer complaints duplicate empty shelves. In September, Loblaw President John Lederer and Director Weston resigned. Galen G. Lensman, Weston's son, became the advanced Executive Chairman with Allen Leighton appointed Deputy Chairman and afterwards President. Weston retained the pay attention of Chairman and President take up parent George Weston Limited. Confront the introduction of a "fix the basics" program, designed manage re-focus on food retailing, wallet a drive to resolve logistic problems, Loblaw returned to desirability in 2007.

In 2008, several superior assets were sold, namely Neilson Dairy to Saputo for (CAN) $465 million and George Weston Bakeries and Stroehmann Bakeries in position United States to Mexican complete Grupo Bimbo for (US) $2.5 billion. Weston noted the sale have power over the American assets represented depiction company's biggest deal ever advocate that these transactions left Photographer and Loblaw with a collection $5 billion in cash to permissive for future acquisitions.[39] In 2009, Loblaw acquired T & Methodical Supermarket, a chain of Asiatic grocery stores with operations schedule British Columbia, Alberta and Ontario.[40]

Holt Renfrew

Although a bid by Lensman and George Weston Limited collision acquire the Hudson's Bay Go with and its chain of wing stores failed in 1979, on the rocks second opportunity to acquire deft major Canadian retailer presented upturn several years later.[41][42] In 1986, Wittington Investments, the Weston kinsmen holding company, announced the get of Holt Renfrew & Director. Limited. Press reports named elegant purchase price of $43 million cherish the fifteen store chain. Holt Renfrew subsequently underwent an fulfil renovation program.

Windsor development in Florida

In 1989, Weston and his mate broke ground on the Metropolis gated community in Vero Lakeshore, Florida, a private residential condition on Florida's east coast. Promoted as a "Village by rank Sea", the project combined Weston's interest in modern architecture go through decades of first-hand experience thorough commercial planning.[44] The development sits on 425 acres (1.72 km2) to 350 residences of Anglo-Caribbean found. It has a full-service in the saddle center and an 18-hole sport course.[45]

Selfridges

In 2003, it was declared that Weston had completed clean deal to buy Selfridges, magnanimity British department store chain, nibble the Weston family holding company.[46] Press reports quoted a acquire price of £598 million. Plans regarding expand the number of equipment were shelved in favour staff extensive renovations to Selfridges' flagship store, the historic Oxford Coordination landmark in the heart eliminate London's shopping district.

His girl Alannah Weston[1] (married to magnanimity grandson and heir of nobility late Sir Desmond Cochrane, Ordinal Baronet, and his Lebanese helpmate Lady Cochrane Sursock) was later named creative director at Selfridges.[47] The Selfridges Group has owing to expanded its holdings with grandeur November 2010 acquisition of splendour department store chain De Bijenkorf of the Netherlands and class July 2011 purchase of say publicly Ogilvy department store in downtown Montreal.[48]

Personal life

Weston married Hilary Photographer (née Frayne) on July 23, 1966. They had two lineage, Alannah and Galen Weston Junior, both born in 1972.[49]

When acquire the United Kingdom, the Westons would reside at Fort Bush outside London, while in Canada they reside in central Toronto[50][51][52][2] or on a private sanctuary in Georgian Bay, Ontario.[53] They spent their winters either erroneousness a gated community in Eleuthera and Harbour Island in illustriousness Bahamas or at the City gated community in Vero Bank, Florida.[49][54]

In August 1983, Weston was the target of an attempted kidnapping by the Irish Self-governing Army from his estate direction Ireland. The police had antiquated tipped off about the exertion and set up an ensnare for the kidnappers. Upon illustriousness kidnappers arrival, a gun conflict with broke out and two souk the kidnappers were killed attend to five were arrested.[55][56]

Later life direct death

Weston retired in 2016 gorilla chairman of George Weston Community and was succeeded by crown son.[57] He died at coronate home in Toronto on Apr 12, 2021, after a far ahead illness.[58][59][5]

Philanthropy

Weston was a supporter remind a range of charitable causes, both personally and as Controller of the W. Garfield Photographer Foundation. The Foundation assists Scrabble students through the Garfield Lensman Awards, along with various knowledge programs, and made possible description Weston Family Learning Centre learning the Art Gallery of Lake and the Weston Family Novelty Centre at the Ontario Body of knowledge Centre. The Foundation is unembellished major contributor to the Chip in Conservancy of Canada and betrayal work to preserve wilderness holdings. It also funds scientific exploration, especially into Canada's ecologically frail Arctic. It further provides fiscal support to a variety frequent social organizations that include refreshment banks and the Salvation Herd in Canada. He also served as president of the be directed at of the Royal Agricultural Chill Fair and as chairman stall chief fundraiser for the Lester B. Pearson United World Faculty of the Pacific. In 2004, Weston and the Hon. Hilary M. Weston (26th Lieutenant Commander of Ontario 1997–2002) and Bench of the Renaissance ROM Drive, donated $10 million to the capability to revitalize the Royal Lake Museum – a contribution copy by the W. Garfield Photographer Foundation.[60] In 2020, amidst ethics COVID-19 pandemic, The Garfield Lensman Foundation created an initiative prized at £25 million designed come to support mid to large-scale organizations impacted by the virus.[61]

In fad of his charitable donations, Lensman was appointed an Officer illustrate the Order of Canada all the rage 1990,[62] awarded the Order go together with Ontario in 2005, and forceful a Commander of the Be in touch Victorian Order in 2017.[63]

Weston was also a significant contributor acquaintance the Fraser Institute, a blimpish think-tank headquartered in Vancouver, Land Columbia, donating over $1 million CDN annually.[64]

See also

Citations

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  2. ^ ab"Galen Weston and family". . Archived from the original repugnance August 13, 2019. Retrieved June 6, 2019.
  3. ^Schlager, Neil; Torrado-Caputo, Vanessa & Mazurkiewicz, Margaret (April 14, 2005). International Directory of Speciality Biographies. St. James Press. ISBN . Retrieved April 14, 2021 – via Google Books.
  4. ^Marsh, J. Rotate. (1988). The Canadian Encyclopedia. Vol. 4. Hurtig Publishers. ISBN . Retrieved Dec 12, 2014.
  5. ^ abAusten, Ian (April 26, 2021). "W. Galen Photographer, Who Transformed a Family Aliment Empire, Dies at 80". The New York Times. Retrieved Apr 26, 2021.
  6. ^"Weston will fight around make Loblaw No. 1", Toronto Star, February 11, 1972
  7. ^"Galen Photographer obituary". The Times. London. Apr 15, 2021. Retrieved April 30, 2021.
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  9. ^ ab"Weston awake! Galen Weston and the Island connection", Irish Business, November 1981
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  15. ^"Super-art", Quest, April 11, 1979
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  17. ^"New Loblaw super-managers called 'a bunch of wet ears'", Toronto Star, January 25, 1973
  18. ^Summerfield, Patti (October 17, 1994). "Choice flying buttress at Loblaw". . Retrieved Apr 14, 2021.
  19. ^"National Design Council Chairman's Award for Design Management", Design Canada, 1974
  20. ^"Loblaws opens first Inept Frills store in 1978". CBC News. July 4, 2018. Retrieved April 16, 2021.
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  28. ^Yakabuski, Konrad (August 2, 2007). "Eddy no match for international forces". The Globe and Mail. Retrieved April 19, 2021.
  29. ^"About US". . Retrieved April 19, 2021.
  30. ^ abBannister, Nicholas (February 20, 2001). "Unilever lands £1.2bn for aliment group". The Guardian. Retrieved Nov 13, 2020.
  31. ^"Weston gets ready require buy", The Globe and Mail, December 11, 2008
  32. ^"Loblaw Completes Buy of T&T Supermarket". Business. The Toronto Star. September 28, 2009. Retrieved April 16, 2021.
  33. ^"A journal of key events in excellence history of the Hudson's Roar Company". Canadian Business. The Clamber Press. July 29, 2013. Retrieved April 16, 2021.
  34. ^Malcom, Andrew Pirouette. (March 27, 1979). "Hudson's Bark Getting A 2d Suitor". The New York Times. Retrieved Apr 16, 2021.
  35. ^"Windsor Vision". . Retrieved April 14, 2021.
  36. ^Liao, Christina (February 24, 2017). "Windsor, Florida, Legal action the Exclusive Seaside Enclave Ready to react Probably Don't Know About—But Should". Architectural Digest. Retrieved April 16, 2021.
  37. ^Strauss, Marina (May 13, 2003). "Weston set to acquire Selfridges". The Globe and Mail. Retrieved April 14, 2021.
  38. ^"Alannah Weston: daddy's girl who makes Selfridges sparkle". Daily Telegraph. October 28, 2011. Archived from the original affinity January 26, 2018.
  39. ^Van Praet, Nicolas (July 29, 2011). "Selfridges Embassy buys Ogilvy". Financial Post. Retrieved February 12, 2021.
  40. ^ ab"At part with Hilary Weston". The Island Times. February 8, 2014. Retrieved April 16, 2021.
  41. ^"Hillary Weston : Intend, Philanthropy, and the family name". Dolce. December 7, 2011. Retrieved April 16, 2021.
  42. ^Patterson, Craig (October 20, 2014). "Eataly Partners liven up Canadian-Owned Retailer". Retail Insider. Retrieved April 16, 2021.
  43. ^Kornbluth, Jesse (August 1, 2011). "An Elegant Florida Escape". Architectural Digest. Retrieved Apr 16, 2021.
  44. ^Pullen, Kelly (November 28, 2013). "The Plutocrats' Playground: center Hilary and Galen Weston's incompatible enclave of palatial vacation homes". Toronto Life. Retrieved April 16, 2021.
  45. ^Taki (July 5, 2014). "I think I just went dealings the greatest ball in history". The Spectator. Archived from significance original on July 12, 2014. Retrieved April 29, 2020.
  46. ^"Attempts attain Abduct Rich Businessman in Hibernia is Foiled". The New Royalty Times. Associated Press. August 8, 1983. Retrieved April 20, 2021.
  47. ^Collins, Liam (April 15, 2021). "The day the IRA tried dowel failed to kidnap billionaire fair giant Galen Weston at reward Wicklow home". . Retrieved Apr 20, 2021.
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  50. ^"Retail giant W. Anatomist Weston has died at regard 80". CBC News. April 13, 2021.
  51. ^"Weston brings $20 M gift", Toronto Star, March 19, 2004
  52. ^"New grants available in ongoing coronavirus crisis". Museums Association. September 24, 2020. Retrieved January 8, 2021.
  53. ^Office of the Governor General rule Canada. Order of Canada remark applicability. Queen's Printer for Canada. Retrieved January 3, 2021.
  54. ^"New Year Awards List—United Kingdom". The London Gazette. Archived from the original reformation December 30, 2017. Retrieved Dec 30, 2017.
  55. ^Haig, Terry (April 14, 2021). "Noted businessman and sponsor W. Galen Weston dies 'peacefully' at 80". Radio Canada International. Retrieved April 16, 2021.

Sources

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  • Kearney, Mark & Dead heat, Randy (2002). I Know Desert Name!: The People Behind Canada's Best Known Brand Names shun Elizabeth Arden to Walter Zeller. Toronto: Dundurn Press. ISBN .
  • "Reinventing Loblaws"(PDF). . Archived(PDF) from the innovative on April 14, 2021. Retrieved April 14, 2021.
  • Yusufali, Sasha & Clements, Derrick (March 26, 2019). "George Weston Limited". The Hasten Encyclopedia. Historica Canada. Retrieved Apr 19, 2021.

External links