RALEY'S PRESIDENT AND CEO RESIGNS UNEXPECTEDLY; COYNE SUCCEEDS

SACRAMENTO, Calif. -- Raley's here said Michael J. Teel has resigned as president and chief executive officer of the chain "to pursue personal endeavors."Succeeding him, with the title of president and chief operating officer, is William J. Coyne, who was named chief operating officer in February after nearly five years with the company.Teel's resignation was unexpected, company officials said, "although

SACRAMENTO, Calif. -- Raley's here said Michael J. Teel has resigned as president and chief executive officer of the chain "to pursue personal endeavors."

Succeeding him, with the title of president and chief operating officer, is William J. Coyne, who was named chief operating officer in February after nearly five years with the company.

Teel's resignation was unexpected, company officials said, "although knowing Michael, the unexpected is always what you should expect," one

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