(Dennis Eidson and Dave Staples. Photos courtesy SpartanNash)
SpartanNash president and CEO Dave Staples has resigned, and the company has selected chairman and former CEO Dennis Eidson as the interim CEO.
“The board remains confident in the company’s strategic direction and its ability to generate top line growth; however, execution has fallen short of our expectations and we believe that now is the time for a leadership change,” Douglas Hacker, lead independent director of the board, said in a news release. “I want to thank Dennis for returning to the leadership position to guide the company’s efforts in revitalizing performance and maximizing long-term shareholder value.
“On behalf of the board, I also want to thank Dave for his contributions to SpartanNash throughout his tenure,” Hacker said. “Since joining the company in 2000, Dave has presided over numerous successful business initiatives and has been instrumental in driving SpartanNash’s growth. We wish him well in the future.”
The company reported that net sales for its second quarter, which ended July 13, are expected to be $2 billion, up from $1.9 billion for the same time last year.
SpartanNash also adjusted its 2019 earnings guidance from $190-$205 million to $183-195 million.
Eidson, who will serve as CEO until a successor to Staples is hired, previously served as CEO from 2008-2017. He had also been president, chief operating officer and executive vice president of marketing and merchandising during his 16-year tenure at the company.
SpartanNash also announced it will be exiting its Fresh Kitchen operations.