Ex-Shoppers head got golden parachute

TORONTO — Former Shoppers Drug Mart president Domenic Pilla received a $25.5 million compensation package upon his departure from Loblaw Companies Ltd on January 10, according to Report on Business. The package included more than $15 million in “change of control” payments and a $6.2 million severance. Pilla was instrumental in Loblaw’s acquisition of the drug store chain and assisted in Shoppers’ transition to a division of Loblaw. The terms of his leaving were disclosed in the company’s management proxy circular ahead of its May 7 AGM.