Peter Godsoe, retired chairman and CEO of the Bank of Nova Scotia, is the new chairman of Sobeys Inc., the Nova Scotia-headquartered supermarket chain.

Godsoe’s appointment was announced Wednesday at the annual meeting by outgoing chairman Sir Graham Day, who remains a director. Day is a former member of the board of Scotiabank, where Paul Sobey of the Sobeys founding family is a director.

Sobeys, based in Stellarton, is Canada’s second-largest supermarket retailer behind Loblaw Cos. The company also reported on Wednesday that its profit in the May-July quarter rose 11.5% from a year earlier to $46.7 million.