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Putting to rest weeks of speculation in the local market that he was poised to make a return to the executive ranks of the regional grocery company founded by his grandfather, Michael Teel is returning to the helm of West Sacramento, Calif.-based Raley’s as its CEO following the departure of William Coyne, who quit in October.
“He knows the market; he knows the company,” said Raley’s co-chairman Jim Teel. “The board and the family welcome Michael back with our full, 100 percent support.”
Michael Teel formerly led the 134-store grocery company from 1996 to 2002, and returned with the message that he’s focused on the family’s goal of keeping the company privately held and staying true to Raley’s core values.
“This is a special company. We are unique in how our employees offer service to our customers,” said Michael Teel. “I value that strength, and see it as essential to who we are. As a leader, my role is to foster this unique quality and allow it to thrive.”
In related news, Raley’s CFO/SVP Don Ball is leaving the company after one year on the job. Ball joined Raley’s last February from Swedish home furnishings retailer IKEA, where he was employed for almost 20 years, according to published reports. “Don has a unique opportunity in Sacramento that he feels is best for him and his family. We will miss his many contributions to our business and wish him well,” Dave Clark, Raley’s COO and interim president, was quoted as saying in the Sacramento Business Journal.
Ball had succeeded Bill Anderson, who retired as CFO after 19 years with the regional grocer.
The family-owned and -operated Raley’s operates 134 stores in northern California and northern Nevada under four banners: Raley’s, Bel Air Markets, Nob Hill Foods and Food Source.