Leadership Changes at Village Super Market Highlight Growth
Leadership Transition at Village Super Market
Village Super Market, Inc. (NSD-VLGEA) has announced a significant change in its leadership as Robert Sumas prepares to step down as Chief Executive Officer and interim Chairman of the Board of Directors. Effective December 13, 2024, he will transition to a Senior Advisor role to assist with the handover of responsibilities. Robert Sumas, a cornerstone of the company since its inception, plans to remain active as a member of the Board of Directors.
Robert Sumas's Legacy
Since his appointment as CEO in 2017, Robert Sumas has brought years of experience to the organization. His journey with Village Super Market began in 1969, where he held several key positions, including Chief Operating Officer and Secretary. His leadership has had a notable impact on the company’s growth, and his tenure will be remembered for the stable hand he has provided during various market challenges.
Introducing New Leadership
As part of this transition, the Board of Directors plans to appoint John J. Sumas as the new Chief Executive Officer and Nicholas Sumas as President and Chairman of the Board of Directors, effective the same date. These appointments come at a crucial time for the company as it continues to grow and expand its operations in the competitive grocery market.
Experience of the New Executives
John J. Sumas has been a Director since 2009 and served as Co-President since 2018. His tenure at the company has been marked by various leadership roles, including Chief Operating Officer and General Counsel. His deep understanding of the company’s operations promises a seamless transition into his new role.
Nicholas Sumas’s Contributions
Nicholas Sumas, who has also served as a Director since 2009 and Co-President since 2018, brings significant experience to his new position as President and Chairman. His background includes roles as Chief Marketing Officer and Vice President, which have equipped him well to tackle the challenges ahead. In addition to his work at Village Super Market, he serves as an executive officer of Wakefern and is actively involved in the Wakefern Board of Directors.
Impact of Leadership Changes
The transition in leadership marks not just a change in personnel but an ongoing commitment to innovation and customer satisfaction at Village Super Market. The company operates 34 supermarkets under the ShopRite and Fairway brands across multiple states, catering to a diverse market while continuing to expand its reach.
In light of recent developments, the Board of Directors has reviewed its composition and decided not to fill the vacancy left by the late Board member William Sumas. This change reduces the Board from ten to nine members, a strategic decision meant to streamline governance and maintain operational efficiency.
Looking Ahead
Village Super Market remains focused on delivering the best possible shopping experience, leveraging the extensive industry knowledge of its new leadership team. The company’s commitment to quality and service continues to be at the forefront of its business strategy, promising customers a dependable source for their grocery needs.
Frequently Asked Questions
What prompted the leadership change at Village Super Market?
The change is part of a strategic plan to refresh and enhance leadership as Robert Sumas transitions to a Senior Advisor role.
Who will be the new CEO of Village Super Market?
John J. Sumas is set to become the new Chief Executive Officer effective December 13, 2024.
What roles have the new executives held previously?
Both John and Nicholas Sumas have served in various key positions in the company, ensuring a strong continuity of leadership.
How many locations does Village Super Market operate?
The company operates 34 supermarkets under the ShopRite and Fairway names across New Jersey, Maryland, New York, and Pennsylvania.
Who can I contact for more information about the company?
For further inquiries, John Van Orden, the CFO, can be reached at (973) 467-2200 or via email at VillageInvestorRelations@wakefern.com.
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