Grocery Outlet Holding Corp. Announces Changes to the Board of Directors
Grocery Outlet (NASDAQ: GO) announced the resignation of Board members Matthew B. Eisen and Sameer Narang, effective September 2, 2020. Effective September 4, 2020, Carey Jaros was appointed to the Board. Jaros brings over 20 years of experience in strategy, finance, and retail, currently serving as CEO of GOJO Industries. Chairman Erik Ragatz expressed enthusiasm for Jaros' leadership and contributions, indicating a positive outlook for the company's growth strategy.
- Carey Jaros' appointment brings over 20 years of relevant experience in strategy and retail to the Board.
- Strong leadership background from GOJO Industries, enhancing Grocery Outlet's strategic growth potential.
- Resignation of two Board members may raise concerns about continuity and governance.
EMERYVILLE, Calif., Sept. 08, 2020 (GLOBE NEWSWIRE) -- Grocery Outlet Holding Corp. (NASDAQ: GO) (“Grocery Outlet” or the “Company”) today announced that Matthew B. Eisen, Principal at Hellman & Friedman and Sameer Narang, Partner at Hellman & Friedman, informed the Board of Directors (the “Board”) of their resignation as Board members effective September 2nd, 2020.
The Company also announced the appointment of Carey Jaros to its Board, effective September 4, 2020. Ms. Jaros brings more than 20 years of strategy, finance, and retail and consumer products experience. She currently serves as President and Chief Executive Officer of GOJO Industries, Inc., a global manufacturer of hand hygiene and surface disinfecting products and the maker of PURELL® brand Hand Sanitizer. Ms. Jaros joined GOJO Industries in 2014 as a board director, and served as the company’s Chief Operating Officer and Chief Strategy Officer prior to becoming CEO. She also serves as a Board member of ACRT Inc., a high-growth middle-market service provider to public utilities, where she is a member of the compensation and strategy committees. Ms. Jaros has been a board member and advisor to more than a half-dozen early stage companies including ed-tech startup Wisr Inc., and personal care startup Aunt Flow. Previous to joining GOJO industries, she served as President of Walnut Ridge Strategic Management Company. She was also a Vice President at Dealer Tire, where she held P&L, Strategy and Finance leadership roles, and she spent over a decade as a consultant at Bain & Company, where she specialized in developing and delivering on growth strategies with consumer products and retail clients.
Erik Ragatz, Chairman of the Board, stated, “We are delighted to welcome Carey to the Board of Grocery Outlet. Carey has proven herself as an outstanding leader and strategist across a number of retail and consumer businesses and I am confident that she will be a terrific addition to the Board. We look forward to her insights, contributions and energy. I also want to thank Matt and Sameer for their valuable service during their Board tenure. On behalf of the Board, we remain excited for the future of Grocery Outlet as we continue to work with the management team to advance the Company’s long term strategic growth plan.”
About Grocery Outlet:
Based in Emeryville, California, Grocery Outlet is a high-growth, extreme value retailer of quality, name-brand consumables and fresh products sold through a network of independently operated stores. Grocery Outlet has more than 350 stores in California, Washington, Oregon, Pennsylvania, Idaho and Nevada.
FAQ
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