The Financial Post reports in its Friday, July 15, edition that Empire parted ways with chief executive officer Marc Poulin "effective immediately" and replaced him with Francois Vimard. The Post's Barry Critchley writes that the change resulted from Empire's June, 2013, acquisition of Canada Safeway. It financed the deal with debt and $1.84-billion of equity. Empire has now written off half the enterprise value. In the three years the shares have returned a modest 10.99 per cent. Shareholders have suffered for what was described as "an excellent strategic fit." Bank of Nova Scotia and Morgan acted as advisers. Mr. Critchley wonders if Empire could seek recourse from the firms playing that role. Scotiabank generated almost $75-million in fees. In the offering, Scotia was given a 32.50-per-cent interest. As advisers, Morgan and Scotiabank's role restricted their involvement to providing high level advice. An unnamed lawyer says the financial advisers are only liable if a court makes a finding of gross negligence, or fraud or wilful misconduct." He says, "They get indemnified for everything else." The lawyer says he is not aware of a Canadian company bringing a claim against its adviser.