SpartanNash CEO resigns, interim leader appointed

By Brian McVicar
mlive.com

BYRON CENTER, MI — Dave Staples, the president and CEO of Byron Township-based grocery chain SpartanNash, has resigned, the company announced in a news release.

The company’s board of directors has appointed Dennis Eidson, the company’s former CEO and current chairman, to serve as interim president and CEO until the next CEO is found.

Staples has served in his role since 2017. When he was appointed to the position, he replaced Eidson, who led the company from 2008 to 2017.

“The board remains confident in the company’s strategic direction and its ability to generate top line growth; however, execution has fallen short of our expectations and we believe that now is the time for a leadership change,” Douglas Hacker, lead independent director of the board, said in a statement. “I want to thank Dennis for returning to the leadership position to guide the company’s efforts in revitalizing performance and maximizing long-term shareholder value.”

SpartanNash operates 160 supermarkets, primarily under the brands of Family Fare Supermarkets, Martin’s Supermarkets, D&W Fresh Market, VG’s Grocery, Dan’s Supermarket and Family Fare Market. The company also distributes groceries to U.S. military commissaries. It serves customers in all 50 states, as well as Europe, Cuba, Puerto Rico, Bahrain, Djibouti and Egypt.

In addition to the leadership changes, SpartanNash announced it will “exit” operations related to its Indianapolis-based Fresh Kitchen operations. SpartanNash acquired Fresh Kitchen, which supplies protein-based foods and meals, as part of its 2017 acquisition of Caito Foods.

The company said exiting the Fresh Kitchen operations will have an annual net sales impact of $20 million.

The news release announcing the leadership changes also provided a look at the company’s financial performance. It showed that SpartanNash has a $6.8 million reported loss from continuing operations for the second-quarter period ending July 13.

The company also said it expects net sales for the period to total $2 billion. That’s compared to $1.9 billion for the same period last year.

avatar

Posted by Tribune News Services

Leave a Reply