STELLARTON, Nova Scotia — Paul Sobey plans to retire on December 11 from his posts as president and chief executive officer of Empire Co., the parent company of Canadian supermarket operator Sobeys Inc.

Paul Sobey plans to retire on December 11 from his posts as president and chief executive officer of Empire Co., the parent company of Canadian supermarket operator Sobeys Inc.

"With the imminent closing of the Canada Safeway acquisition, Empire will be a truly operationally-focused, leading grocery retailer in this country," Sobey said. "As such, the time is right for the transition of leadership."

Sobeys president and CEO Marc Poulin will succeed Sobey as president and CEO of Empire, while continuing to hold those posts at Sobeys.

"Marc has been a major contributor to Sobeys’ success and is extremely well positioned and ready to lead Empire as we integrate and capitalize on this new and exciting platform for growth," Sobey said.