Empire Announces Retirement of CFO Matt Reindel - Constantine (Costa) Pefanis to Assume Role in May

STELLARTON, NS, March 13, 2025 /CNW/ - Empire Company Limited ("Empire" or the "Company") (TSX: EMP.A) today announced that Matt Reindel, Executive Vice President and Chief Financial Officer has decided to retire from the company. He will be replaced in May by Constantine (Costa) Pefanis, who has most recently served as CFO of Green Infrastructure Partners (GIP Inc.). Reindel has agreed to stay on for the next several months to support a seamless transition.

"Matt has been an incredible partner since joining Empire in 2019 and becoming CFO in 2021," said Michael Medline, President & CEO, Empire. "He played a critical role in helping drive Empire's turnaround while also navigating the challenges brought on by the pandemic as well as a period of high inflation and interest rates. He has been instrumental in building the foundation for our ongoing success."

Pefanis joins Empire with a breadth of experience and practical depth, including capital and public markets expertise across different sectors, including retail. He holds a Bachelor of Commerce degree from the University of Toronto and is a Chartered Professional Accountant (CPA). Pefanis began his career with Arthur Anderson in its Advisory Practice, before joining Leon's Furniture Limited (LFL Group) where he held progressively senior finance roles, including as CFO, over a 19-year career. 

"I am thrilled that Costa will be joining Empire as CFO," continued Medline. "He is an experienced, immensely capable and intensely goal-oriented leader who will play a critical role in helping drive Empire's results in the years to come."

ABOUT EMPIRE

Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire's key businesses are food retailing, through wholly-owned subsidiary Sobeys Inc., and related real estate. With approximately $31.1 billion in annual sales and $16.8 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 128,000 people. Additional financial information relating to Empire, including the Company's Annual Information Form, can be found on the Company's website at www.empireco.ca or on SEDAR at www.sedarplus.ca.

SOURCE Empire Company Limited

For further information, please contact: Media Contact: Karen White-Boswell, Director, External Communications, Sobeys Inc., [e-mail]; Investor Contact: Katie Brine, Vice President, Investor Relations & Pensions, Sobeys Inc., [e-mail]