Ingles Markets, Incorporated CFO Ron Freeman to Retire

Rhea-AI Summary

Ingles Markets, Incorporated (NASDAQ: IMKTA) announced the retirement of its CFO, Ronald B. Freeman, effective February 16, 2022. Freeman has served as CFO for 17 years and will not seek re-election to the board of directors. Chairman Robert P. Ingle II expressed gratitude for Freeman's contributions and the company's strong financial standing under his leadership. Ingles Markets operates 198 supermarkets across six southeastern states, along with neighborhood shopping centers and a fluid dairy facility.

Positive

• Ron Freeman served as CFO for 17 years, contributing to a strong financial position for Ingles Markets.
• The company operates 198 supermarkets, indicating a solid market presence.

Negative

• The retirement of a long-serving CFO may lead to uncertainties in financial leadership.

ASHEVILLE, N.C.--(BUSINESS WIRE)-- Ingles Markets, Incorporated (NASDAQ: IMKTA) announced today that its vice president-finance and chief financial officer, Ronald B. Freeman is retiring effective February 16, 2022. As a result, Mr. Freeman will not be standing for reelection to the Company’s board of directors.

Mr. Freeman has been employed by Ingles for 17 years as its CFO and a member of its board of directors. Mr. Robert P. Ingle II, chairman of the board, stated, “We regret that Ron Freeman is retiring from the Company. He is a person of the highest caliber and utmost integrity who has been a loyal and dedicated member of our team. We have benefited greatly from his counsel and we are grateful for the Company’s strong financial position that has been created under his stewardship. We wish him the best of luck in his retirement.”

Ingles Markets, Incorporated is a leading grocer with operations in six southeastern states. Headquartered in Asheville, North Carolina, the Company operates 198 supermarkets. In conjunction with its supermarket operations, the Company operates neighborhood shopping centers, most of which contain an Ingles supermarket. The Company also owns a fluid dairy facility that supplies Ingles supermarkets and unaffiliated customers. To learn more about Ingles Markets visit ingles-markets.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211227005085/en/

Ingles Markets, Inc.

Ron Freeman, Chief Financial Officer

rfreeman@ingles-markets.com

(828) 669-2941 (Ext. 223)

Source: Ingles Markets, Incorporated

FAQ

Who is the CFO of Ingles Markets as of February 2022?

Ronald B. Freeman is retiring as CFO effective February 16, 2022.

What has been Ronald B. Freeman's role at Ingles Markets?

Ron Freeman has served as CFO and board member for 17 years.

How many supermarkets does Ingles Markets operate?

Ingles Markets operates 198 supermarkets across six southeastern states.

What statement did the chairman make about Ron Freeman's retirement?

Chairman Robert P. Ingle II expressed regret over Freeman's retirement and gratitude for his contributions.