UNFI - United Natural Foods retail CEO resigns amid executive reshuffle

2023-03-23 12:16:52 ET

United Natural Foods ( NYSE: UNFI ) announced the resignation of current Cub Foods CEO Michael C. Stigers on Thursday.

The Providence, Rhode Island-based organic food company reported that Stigers announced his intention to depart earlier in the week, with a plan remain with the company until the close of May.

"On March 20, 2023, Michael C. Stigers notified United Natural Foods, Inc. of his intention to resign from his position as Chief Executive Officer, UNFI Retail to pursue another professional opportunity," the 8-K filing sated. "Mr. Stigers will remain with the Company until May 31, 2023 to enable a smooth transition."

The disclosure comes just a day after the company announced a number of executive shakeups. This included the elevation of Erin Horvath to the role of Chief Operating Officer and Louis Martin to the position of President of Wholesale. Both Martin and Horvath joined United Natural Foods in 2022. Martin had previously held senior roles at Coca-Cola and Walmart.

Shares of United Natural Foods ( UNFI ) rose 0.9% just before the market open on Thursday.

Read more on the senior leadership shifts announced on Wednesday .

Correction: A previous version of this article misidentified Stigers' role with the grocer.

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