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    Southeastern Grocers’ Reorg Related to Failed IPO?

    Burt Flickinger: 'Should be best of times' for retailer

    By Bridget Goldschmidt, Stagnito Business Information | Meg Major, EnsembleIQ

    The comprehensive management shakeup this week at Southeastern Grocers, parent of the Bi-Lo, Winn-Dixie and Harveys banners, may stem from the Jacksonville, Fla.-based retailer's failed attempt to mount a successful initial public offering (IPO), according to industry expert Burt P. Flickinger III, managing director at New York-based Strategic Resource Group.

    The pressure on the company is magnified by Albertsons' impending IPO, with which Southeastern Grocers would want to be favorably compared, particularly during this present era of robust merger-and-acquisition activity, notes Flickinger. As such, the executive moves could have resulted from a desire on Southeastern Grocers' part "to stimulate additional performance to lead to an IPO," he says.

    While acknowledging that major changes of senior merchants at a company twice within a single year was "surprising," Flickinger notes that it's not unusual for a new CEO to restructure an executive team after a half a year of evaluation and analysis. When asked what impact Ian McLeod had made at Southeastern Grocers since being named to helm the company this past January, Flickinger says it's too soon to tell because it generally takes about two years to assess a new CEO's performance.

    By Bridget Goldschmidt, Stagnito Business Information | Meg Major, EnsembleIQ
    • About Bridget Goldschmidt In addition to serving as Progressive Grocer’s Managing Editor, Bridget writes many print and digital features encompassing a range of grocery and fresh categories across the store. Bridget also enjoys on-site reporting assignments at such key industry events as the New York Fancy Food Show and the International Boston Seafood Show, in addition to visiting stores for PG’s prestigious Store of the Month feature. In her years with the magazine, she has developed into a knowledgeable voice on grocery industry trends, sought by such distinguished publications as The New York Times.
    • About Meg Major Veteran supermarket industry journalist Meg Major brings a wealth of experience to her role as Chief Content Editor of Progressive Grocer. In addition to her editorial duties, Major also spearheads the retail food industry’s premier women’s leadership recognition platform, Top Women in Grocery. Follow her on Twitter at @Meg_Major, connect with her on LinkedIn at www.linkedin.com/in/megmajor, or email her at [email protected]

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