BRAMPTON, Ontario — Allan Leighton is stepping down as president of Loblaw Cos., effective later this year. He will be succeeded by Carrefour executive Vicente Trius, who is also a veteran of Walmart International.

Allan Leighton is stepping down as president of Loblaw Cos., effective later this year. He will be succeeded by Carrefour executive Vicente Trius, who is also a veteran of Walmart International.

The announcement of the move came as Loblaws reported its fourth quarter results, which included a 1.6% decline in same-store sales and an 8.5% drop in net earnings.

Trius, 53, is a native of Spain who plans to move to Canada in the next few months and join Loblaws in the second half of the year.

At that point Leighton will step down from Loblaws’ board and return to his long-standing position as advisor to the Weston family and deputy chairman of George Weston Ltd. Leighton said he was “delighted” that Trius will be his successor, and that he will work to ensure a smooth transition to his leadership.

"Vicente is a high-calibre executive committed to building the Loblaw business," said executive chairman Galen Weston. "He will join us as part of a planned succession process that included a global search and the establishment of an appropriate transition period. I very much look forward to working with him."

Trius is joining from Carrefour, where he was director for Europe and a member of the group’s executive board, with responsibility for operations in Belgium, Spain, Italy, Poland, Greece, Cyprus and Romania. Prior to Carre­four, he held senior executive positions at Walmart, including vice president for international operations, chief executive officer for Brazil, chief executive for Asia and executive vice president and chief executive officer for Latin America.