Embattled billionaire Galen Weston Jr. will be stepping down from his role of Canada's reigning grocery czar as Loblaw CEO, announced in a bombshell news release on Tuesday morning.

Weston has faced intense scrutiny in recent months over runaway grocery inflation, and his increasing wealth — even questioned about his role in price increases in a session at Parliament Hill in March — will be replaced by European retail executive, Per Bank.

Bank will be departing his role as CEO of Denmark-based retail conglomerate Salling Group and assuming his new role as CEO of Canada's largest grocery empire by the first quarter of 2024.

Galen Weston stepping down as Loblaw president https://t.co/mSekiltTwv #GalenWeston

— blogTO (@blogTO) April 18, 2023

Thousands are reacting to Weston's departure on social media, including several responses hung up on the name of his replacement.

Though the name might not have the same significance in Bank's native Danish, it reads as somewhat ironic to English speakers familiar with the GroceryGate saga that has played out since 2022.

Is "Per Bank" a term the accountant uses to describe profits from individual Loblaw stores internally?

— bryehn (@brianjpapineau) April 18, 2023

"Per Bank is like the No Name name for a CEO," reads one comment.

Bro is named "Per Bank" 😂

— hivolt (@hivolt_inc) April 18, 2023

Another user jokes, "Like Per Bank doesn't sound worse than Galen Weston when it comes to entitlement."

Free screenplay idea: a Looper-type film where Galen and Per Bank must fight to the death over the future of price gouging. https://t.co/Q8blEaCAj8

— Daniel Reynolds (@aka_Reynolds) April 18, 2023

One person even suggested that Bank shares some visual similarities with arguably the greatest Disney villain of all time; the coach of team Iceland in D2: The Mighty Ducks.

Per Bank looks like he's ready to coach a team of genetically altered kids hellbent on destroying the Mighty Ducks

— Dan with the Sickness (oo waa ah ah ah) (@ZenDonut) April 18, 2023

Though Weston will be stepping down from his current role, the grocery tycoon will maintain a grip on the industry in Canada, as he will remain chairman of Loblaw and chairman and CEO of George Weston Ltd.