Meyer informed the board of his decision to retire next year. The firm said the exact date of his retirement will be based on the time necessary to achieve an orderly and seamless transition.
“It has been an incredible pleasure to be a part of Spartan Stores for the past 30 years,” Meyer said. “I will be assisting the board in finding the next individual with the right combination of executive leadership skills and strategic vision to ensure Spartan Stores’ future success.”
Meyer has been with the company since 1973 and served as president since 1996, CEO since 1997 and chairman since 2000.
Spartan Stores has retained the services of Korn/Ferry International, an executive recruiting firm, to immediately commence a search for a successor with a proven track record and retail industry experience. Meyer will continue to serve in his role during the process.
“The board of directors has, with sincere regret, accepted Jim Meyer’s decision to retire, and we want to thank him for his many years of dedicated service,” said Elson Floyd, a Spartan Stores director and executive committee member.
“Under his leadership, the company has been transformed from a customer-owned grocery distributor to a publicly held company traded on the Nasdaq Stock Market, acquiring and operating over 100 retail supermarkets and deep-discount drugstores, while continuing its market leading distribution business.
“With Jim’s assistance in the recruiting and transition to a successor and his continued leadership during the interim period, we are confident that we will have a smooth transfer of leadership to a new chief executive well qualified to lead Spartan Stores into the future.”