United Natural Foods Announces CEO Succession Plan
United Natural Foods (UNFI) announced that CEO Steven L. Spinner will retire on July 31, 2021, or earlier with a successor's appointment. Post-retirement, Spinner will serve as Executive Chairman. The Board has commenced a search for a new CEO, engaging an executive search firm to consider both internal and external candidates. Spinner expressed pride in UNFI's achievements during his 12-year tenure, highlighting growth from $3 billion to over $26 billion in annual sales. He emphasized the company’s mission of delivering food and looked forward to future expansions and opportunities.
- Sales growth from $3 billion to over $26 billion during Spinner's tenure.
- Successful adaptation to digital market demands.
- UNFI's role as a critical link in the North American food supply chain during the pandemic.
- None.
PROVIDENCE, R.I.--(BUSINESS WIRE)--United Natural Foods, Inc. (NYSE: UNFI) (the “Company” or “UNFI”) today announced that Steven L. Spinner has informed the Board of Directors of his intention to retire as Chief Executive Officer after the conclusion of the term of his employment agreement on July 31, 2021, or earlier upon the appointment of a successor. Mr. Spinner has agreed to remain on the Board to serve as Executive Chairman following his retirement as CEO.
In connection with Mr. Spinner’s upcoming retirement, the Board has initiated a search to identify UNFI’s next CEO and, consistent with good governance practices, has engaged a leading executive search firm to assist in the process. The CEO search will include both internal and external candidates.
Mr. Spinner stated, “It has been my honor to lead UNFI over these past 12 years and a pleasure to have worked alongside our exceptional associates. We serve an important mission of delivering food to millions of people every single day. When reflecting on my tenure as CEO, I’m most proud of our people and our culture, where our shared beliefs drive everything we do. The future has never been stronger for UNFI as our integration work is nearing completion and we now look toward expansion of new services, technologies, brands and our vast supply chain network. In close collaboration with the Board, I decided now is the right time for the Company to transition to its next leader. As we enter the next chapter, I have great confidence in the strength of our team and the opportunities ahead and look forward to my continued service as Executive Chairman.”
Peter Roy, UNFI’s Lead Independent Director, said, “Over the last 12 years, Steve has made many valuable contributions to UNFI, including growing our customer base, adapting our business to the demands of the digital marketplace, executing on value-enhancing acquisitions and, most recently, fulfilling UNFI’s role as a critical link in the North American food supply chain during an unprecedented global pandemic. Throughout his tenure, Steve has methodically and consistently led UNFI to new heights, increasing annual sales from
About United Natural Foods
UNFI is North America's premier food wholesaler delivering the widest variety of products to customer locations throughout North America including natural product superstores, independent retailers, conventional supermarket chains, ecommerce retailers, and food service customers. By providing this deeper 'full-store' selection and compelling brands for every aisle, UNFI is uniquely positioned to deliver great food, more choices, and fresh thinking to customers everywhere. Today, UNFI is the largest grocery distributor in America. To learn more about how UNFI is Feeding America’s Retailers, visit www.unfi.com.
