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GRAND RAPIDS, Mich. - Spartan Stores Inc. announced on Tuesday that James B. Meyer, chairman, president and CEO, has informed the board of directors of his intention to retire next year. The exact date of Meyer's retirement hasn't been announced. Meyer will continue to serve in his current role during the transition.
"It has been an incredible pleasure to be a part of Spartan Stores for the past 30 years," said Meyer. "I will be assisting the board in finding the next individual with the right combination of executive leadership skills and strategic vision to ensure Spartan Stores' future success."
Meyer has been with the company since 1973, and has served as president since 1996, CEO since 1997, and chairman since 2000.
Spartan Stores Inc. has engaged executive recruiting firm Korn/Ferry International to immediately commence a search for a highly qualified successor with a proven track record and retail industry experience.
Elson S. Floyd, Ph.D., a Spartan Stores director and executive committee member, commented on Meyer's retirement. "The board of directors has, with sincere regret, accepted Jim Meyer's decision to retire, and we want to thank him for his many years of dedicated service. Under his leadership, the company has been transformed from a customer-owned grocery distributor to a publicly held company traded on The Nasdaq Stock Market, acquiring and operating over 100 retail supermarkets and deep-discount drugstores, while continuing its market leading distribution business. Both the board of directors and Jim are committed to an orderly succession."
Spartan Stores Inc., based in Grand Rapids, Mich., owns and operates 95 supermarkets and 21 deep-discount drug stores in Michigan and Ohio, including Ashcraft's Markets, Family Fare Supermarkets, Food Town, Glen's Markets, Great Day Food Centers, Prevo's Family Markets and The Pharm. The company also distributes more than 40,000 private-label and national brand products to more than 330 independent grocery stores and serves as a wholesale distributor to 6,600 convenience stores.