Canadian grocery tycoon Galen Weston Jr. shortlisted for an award nobody wants

Grocery magnate and chairman of Loblaw Companies Ltd. Galen Weston Jr. has been shortlisted for an award that you probably wouldn’t want to win.

Non-profit organization Leadnow has released a ballot with six executives from some of Canada’s biggest corporations who they see are in the running for “Profiteer of the Year.”

Being labelled a profiteer is definitely not a compliment. According to the Oxford English Dictionary’s definition, it’s someone who makes or seeks to make “an excessive or unfair profit, especially by the sale of necessary goods at extortionate prices.”

“It’s time to put faces and names to corporate greed. From grocery giants, telecoms and fossil fuels to housing and weapons manufacturing — we’ve made a list of some of the worst profiteers in Canada,” the organization posted on X.

Leadnow describes itself as an organization that unites “people across Canada in collective action to challenge the corporate and political power that maintains the status quo.”

The non-profit cites several reasons for Weston’s inclusion on the ballot.

Weston “posted an operating income of $1.091 billion (an 8.4 per cent increase) as record numbers of Canadians are visiting food banks because of the affordability crisis,” reads the shortlist.

It also added that he “was the target of an independent consumer boycott over inflated food costs and price-hiking before finally cooperating with federal regulations.”

The organization lists his compensation package in 2022 as $11.7 million, which includes his role as head of the George Weston Ltd. holding company.

George Weston Ltd. and Loblaw have been contacted for comment.

The grocery tycoon has faced a year of backlash. Canadians criticized him for defending Loblaws’ skyrocketing grocery prices while testifying before a House of Commons committee about rising food costs.

As Leadnow mentioned, one of the biggest stories about the grocer this year was the May-long boycott against Loblaw, which involved tens of thousands of frustrated customers.

In November, Maclean’s named Weston one of the richest people in Canada. The publication estimated his worth at a staggering $18.05 billion.

Other names that made the list are Suncor CEO Richard Kruger, General Dynamics and Ordnance and Tactical Systems Inc. President Firat H. Gezen, Rogers Communications CEO Tony Stafieri, RBC CEO Dave McKay and Dream Unlimited CEO Micael J. Cooper.

Leadnow is asking Canadians to vote for 2024’s top profiteer. Voting is open until January 6.