Spartan Stores approves ceo succession
GRAND RAPIDS, Mich. Spartan Stores announced that its board of directors has appointed Dennis Eidson as ceo, effective Oct. 15. Current ceo Craig Sturken will continue in his role as executive chairman of the board.
Eidson will continue in his current role as a board member, president and coo until his transition to president and ceo. As ceo, he will focus on developing and executing the board approved, consumer-centric business strategies and leveraging the company’s distinct hybrid business model, while identifying sustainable market growth opportunities and upholding the company’s highly-motivated and performance-driven corporate culture.
Sturken will work closely with Eidson to ensure a seamless transition of responsibilities during the next three months. As executive chairman, Sturken will continue to manage board functions and facilitate interaction between the board and executive management, among other responsbilities.
"For the past 24 months, our board has been engaged in ceo succession planning," stated Craig C. Sturken, Spartan’s chairman and ceo. "I have worked with our board to assess our critical leadership needs and to ensure that we selected the right individual to lead us through our future growth stages. During the past six years, we have built Spartan Stores into a leading and well respected regional grocery distributor and retailer. During those years Dennis has consistently demonstrated his exceptional leadership talent, strategic insight and business plan execution capabilities. He has been instrumental in guiding our business strategies, which produced record fiscal 2008 earnings and our tenth consecutive quarter of double-digit growth.
"He has been the chief architect behind our critical marketing, merchandising and category management strategies that have led to our successful business performance," continued Sturken. "Dennis has my full and enthusiastic support, along with the support of our board, the executive management team and our associates."
"It is both a privilege and an honor to be appointed to this critical leadership role," said Eidson. "Spartan Stores is an outstanding and cohesive organization comprised of exceptionally talented, hard-working executives and other associates who are firmly committed to the company’s long-term success. I look forward to working closely with all of our constituents, including Spartan’s board of directors, shareholders, distribution customers, suppliers and the communities that we serve.
"Our company has enjoyed tremendous success under Craig’s leadership," continued Eidson. "I look forward to working with Craig to continue increasing shareholder value by relentlessly focusing on our consumer-centric business strategy. I expect to further strengthen our market position by leveraging our organization’s core competencies and competitive advantages to ensure that we extend our success well into the future."
Eidson joined Spartan Stores in March 2003 as evp of marketing and merchandising. In October 2007 he was appointed to the board of directors and as company president, following his appointment in February 2007 as evp and coo. Prior to joining Spartan Stores, Eidson was divisional president and ceo of the A&P's Midwest region and assistant gm for Nash Finch’s Michigan operations.