SpartanNash chairman announces retirement
SpartanNash chairman announces retirement
SpartanNash announced that Craig Sturken will conclude his service as a member of the SpartanNash board of directors at the expiration of his current term. Sturken has served as chairman and a member of the SpartanNash board since November 2013, when Spartan Stores merged with Nash-Finch Co. to form SpartanNash. Prior to the transformational merger, Sturken served as chairman of the Spartan Stores board of directors since 2003.
Sturken served as chief executive officer of Spartan Stores from March 2003 to October 2008 and president of Spartan Stores from March 2003 to October 2007. He spent his entire career in the grocery industry and has more than 50 years of retail grocery experience.
"Throughout his combined tenure, Craig oversaw a period of tremendous growth," SpartanNash President and CEO Dennis Eidson said in a press release. "Craig's leadership helped transform the company from a financially struggling Michigan-based publicly traded company to become the fifth largest food distributor in the nation."
Eidson, who succeeded Sturken as the company's president and CEO, also noted "from 2003 when Craig joined the company through 2015, revenues increased from $2.1 billion to $7.7 billion and market capitalization increased from $50 million to over $1 billion."
Timothy J. O'Donovan, the company's lead independent director, has served with Sturken since both joined the board in 2003. The retired chairman of the board and CEO of Wolverine World Wide Inc. said, "Craig's collaborative leadership, industry knowledge and love for mentoring and continuous improvement were integral to the company's growth and ability to successfully merge and integrate two multi-billion dollar publicly traded companies. He brings the best out in all of us, and it has been an honor to serve with him."
The SpartanNash board of directors nominated Eidson to succeed Sturken. It is anticipated that Eidson will be elected the new chairman of the board of directors following the annual meeting on June 2.
"It has been a privilege to be a part of SpartanNash's growth and transformation and certainly a highlight of my career," Sturken said when announcing his retirement. "I have been fortunate to work with an exceptional board and executive team, and I am now looking forward to traveling and spending more time with my family. This decision has been made much easier, knowing I am turning over the helm to Dennis, a man I have worked side by side with for nearly 20 years."