Leadership Transition Announced at Village Super Market, Inc.
Village Super Market Announces Leadership Changes
Village Super Market, Inc. has recently confirmed a notable shift in its leadership. As of December 13, 2024, Robert Sumas will transition from his role as Chief Executive Officer and interim Chairman of the Board of Directors. After years of dedicated service, Mr. Sumas will continue his involvement in the company as a Senior Advisor to the executive team, ensuring a seamless transition during this period of change.
Background on Robert Sumas
Having joined the company in 1969, Robert Sumas has held a variety of significant roles within the organization. His tenure as Chief Executive Officer and Vice Chairman started in 2017, following his presidency from 2009 until 2018. Over the decades, he has contributed significantly as Executive Vice President, Chief Operating Officer, and Secretary of Village Super Market.
New Leadership Appointments
In line with these changes, the Board plans to appoint John J. Sumas as the next Chief Executive Officer. Currently serving as a Director since 2009, John has been a Co-President since 2018. His extensive experience within the company began in 1987, where he has excelled in various roles such as Chief Operating Officer and General Counsel.
About Nicholas Sumas
Nicholas Sumas will step into the position of President and Chairman of the Board of Directors. Like his brother John, Nicholas has been a Director since 2009 and has served as Co-President since 2018. His career at Village Super Market began in 1994, and he has held vital roles including Chief Marketing Officer and Vice President. Furthermore, he is actively involved as an executive officer with Wakefern.
Changes to the Board of Directors
In addition to these executive transitions, the Board of Directors will not appoint a replacement for the recently vacated position caused by the passing of William Sumas, which occurred earlier this year. This decision reduces the Board from ten members to nine, effective immediately.
About Village Super Market
Village Super Market, Inc. operates a reputable chain of 34 supermarkets, prominently under the ShopRite and Fairway names throughout New Jersey, Maryland, New York, and eastern Pennsylvania. Additionally, the company runs three specialty markets branded as Gourmet Garage situated in New York City.
Contact Information
For inquiries, interested parties can reach out to John Van Orden, CFO, at (973) 467-2200 or via email at VillageInvestorRelations@wakefern.com.
Frequently Asked Questions
What prompted the leadership changes at Village Super Market?
Robert Sumas has decided to step down as CEO, paving the way for new leadership within the company.
Who will replace Robert Sumas as CEO?
John J. Sumas is set to take over the role of Chief Executive Officer.
What roles will Robert Sumas still hold after his transition?
He will continue as a Senior Advisor and remain a member of the Board of Directors.
What is the significance of Nicholas Sumas's new position?
Nicholas Sumas will become President and Chairman, providing experienced oversight during this transition.
How many supermarkets does Village Super Market operate?
The company operates 34 supermarkets along with three specialty markets.
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