Richard Currie, outgoing president of reinvigorated Canadian supermarket chain Loblaw, will be awarded a C$10m (US$6.2m) retirement package when he leaves Loblaw parent company George Weston next month.
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Company documents released yesterday [Thursday] show that, in addition to the C$10m retirement package, Currie will receive a salary of C$1.45m for his work in 2001, a 2001 bonus of C$500,000, C$24m in stock options that were due in 2001, C$16m in stock options that will come due in future and an annual pension of C$500,000.
These sums relate to his retirement as president of George Weston and are in addition to the retirement package he received when he left his position as Loblaw president at the end of 2000.
Currie is credited with turning around the Loblaw supermarket chain, which owns or franchises more than 1,000 stores and has more than 700 associated stores.
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