Emeryville, Calif. — Grocery Outlet Holding Corp. has announced that Eric Lindberg, current chairman of the board, has been appointed interim president and CEO, effective immediately. Lindberg replaces RJ Sheedy, who has stepped down from his position and resigned from the board. The board has engaged a leading global executive search firm to begin the process of identifying a permanent CEO.
With more than three decades of leadership experience at the company, Lindberg is a Grocery Outlet veteran with a deep knowledge of its operations and strategy. He previously served as CEO or co-CEO from January 2006 through December 2022, during which time he led Grocery Outlet’s transformation from a closely-held family-owned business to a sponsor-backed private company, taking on significant outside capital from Berkshire Partners and Hellman & Friedman, and then ultimately to a publicly-traded company in 2019. Under Lindberg’s leadership, Grocery Outlet increased its store count more than 250% and its net sales nearly 500%, expanding to markets across the country. Lindberg has served as a director since January 2006 and as chairman of the board since January 2023.
“Grocery Outlet is an exceptional business with an almost 80-year track record of generating outsized growth and returns through its highly differentiated business model,” says Erik Ragatz, lead independent director. “We are fortunate to have a leader of Eric’s quality and experience to shepherd this transition. The board looks forward to working with Eric to drive the business as we search for our next leader.”
Based in Emeryville, Calif., Grocery Outlet is a high-growth, extreme value retailer of quality, name-brand consumables and fresh products sold primarily through a network of independently operated stores. Grocery Outlet and its subsidiaries have more than 520 stores in California, Washington, Oregon, Pennsylvania, Tennessee, Idaho, Nevada, Maryland, North Carolina, New Jersey, Georgia, Ohio, Alabama, Delaware, Kentucky and Virginia.
SOURCE: Grocery Outlet Holding Corp.