Director Profile

Loreen Paananen ICD.D MBA

Board Value Proposition: 

Strategic Planning and Execution

  • Developed a national real estate strategy for Shoppers Drug Mart to deliver on long-term aggressive growth, and provided real estate department with strategic road map to deliver on growth targets.
  • Executed on that strategy, delivering  compounding growth of 10% until 2010 and, following that, delivered on 3–4% growth per year. This involved building and opening over 1 million selling square feet per year and a $250 million investment.
  • Structured a new department and process within Shoppers Drug Mart to deliver on a budget of $120 million in land-banked property and generate large disposition gains of $15 million yearly.

P&L Accountability

  • Developed the annual financial plan and was accountable for $800 million in sales revenue operationally through 110 Shoppers Drug Mart franchised stores.
  • Provided solutions to the franchise owners to reach financial targets in conjunction with their annual plan, and ensured that the operational resources were aligned in supporting those plans.


  • Led business retail operations of 110 Shoppers Drug Mart stores, union and non-union; directed operations team and ensured trademark standards were achieved in employee relations, loss prevention, accounting, recruiting store systems, and customer experience.


  • Orchestrated financial turnaround of a region within Shoppers Drug Mart.  Within two years, strategically changed operations and led team to exceed profitability goals for seven consecutive years, improving profitability by 84%, EBIDTA by 90%, and sales by 76%, and ranking #1 across Canada in most metrics.
  • Turned around a capital plan for Shoppers Drug Mart nationally, from missing planned sales by $30 million in 2006 to overdelivering sales by $20 million by 2009.  This was accomplished with intense plannning, insightful contingency strategies, and involving team expertise in devising creative solutions and not accepting “not possible” for an answer.   

Industry Experience: 

  • Food & Staples Retailing
  • Drug Retail
  • Food Retail
  • Health Care Equipment & Services
  • Health Care Equipment

Board Experience:

Additional Boards:

FitSpirit 2012 to 2015
Advisory Board, Ontario
Rouge Valley Health System 2009 to 2013
Chair, Community Advisory Group
Finance Committee
Human Resources Committee
North York Seniors’ Centre 2008 to 2012
Vice Chair
Chair, Governance Committee
Vancouver Board of Trade 2005 to 2006
Economic Development Committee


Shoppers Drug Mart 1986 to 2015
Executive Vice President, Network Development, National
Senior Vice President, Retail Development, National
Vice President, Operations, BC Division
District Manager, BC Division
Franchise Owner, Vancouver, BC and Burnaby, BC
Pharmacy Manager, West Vancouver, BC and Vancouver, BC
Pharmacist, West Vancouver, BC


ICD.D, Institute of Corporate Directors, 2012
MBA, Simon Fraser University, 1995
BSc (Hons. Pharm.), University of Alberta, 1981