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Ingles Markets CFO Ronald Freeman to retire

Southeastern supermarket chain begins search for successor

Russell Redman

January 3, 2022

2 Min Read
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Ingles said in an SEC filing that its search for Freeman's successor will include internal and external candidates.Ingles Markets

Ronald Freeman, chief financial officer and vice president of finance at Ingles Markets, is slated to retire next month after nearly 17 years with the company.

Plans call for Freeman to retire on Feb. 16, Asheville, N.C.-based Ingles said. In an 8-K filing with the Securities and Exchange Commission, the company reported that it will begin a search for a new CFO immediately and consider both internal and external candidates. 

Ronald Freeman-Ingles Markets-Southern Conference.jpgRonald Freeman, chief financial officer at Ingles Markets (photo courtesy of the Southern Conference)

With the move, Freeman won’t stand for re-election to the regional grocer’s board of directors at Ingles’ annual shareholders meeting on Feb. 15.

Freeman joined Ingles as CFO in mid-April 2005 following the resignation of Brenda Tudor. Previously, he served as CFO of Silver-Line Plastics, a PVC pipe manufacturing company based in Asheville.

Heading into retirement, Freeman leaves Ingles on a high note. The company reported last month that, for the 2021 fiscal year ended Sept. 25, net sales grew 8.2% to $4.99 billion, building on 9.7% growth to $4.61 billion in fiscal 2020 and more than double the $2.3 billion in net sales for fiscal 2005, the year he joined the retailer.

“We regret that Ron Freeman is retiring from the company,” Chairman Robert Ingle said in a statement. “He is a person of the highest caliber and utmost integrity, who has been a loyal and dedicated member of our team. We have benefited greatly from his counsel, and we are grateful for the company’s strong financial position that has been created under his stewardship. We wish him the best of luck in his retirement.”

Related:Ingles Markets closes out fiscal 2021 with 8.2% sales gain

Ingles Markets finished fiscal 2021 with 198 supermarkets in six states, including 75 in North Carolina, 65 in Georgia, 35 in South Carolina, 21 in Tennessee, and one apiece in Virginia and Alabama. Nine of the locations are under the Sav-Mor banner, a retail concept that serves smaller shopping areas and carries dry groceries, dairy, fresh meat and produce. Ingles also currently operates 111 in-store pharmacies, 107 fuel centers and a fluid dairy facility that supplies its supermarkets and unaffiliated customers.

About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

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