Schreiber out at Shoppers Drug Mart

Shoppers Drug Mart is on the hunt for a new chief after it was announced Wednesday that CEO Jurgen Schreiber is quitting the drug giant. Shoppers is an anchor in every business district and street in the country. The move comes suddenly after Shoppers had it first earnings decline since 2001. During his tenure, Schreiber oversaw the somewhat revolutionary two-storey drug store format (right) at Shoppers. As is known, such a location will be installed on South Bayview in the old Bayview Playhouse. Schreiber will be replaced temporarily by Chairman David Williams, a former food retail executive, until a permanent successor is found.