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UNFI CEO Steven Spinner to retire, search for successor under way

Distributor says both internal and external candidates being considered

Russell Redman

September 29, 2020

3 Min Read
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United Natural Foods Inc. had announced an extension of CEO Steven Spinner's contract in February. The board said yesterday he informed the company of his intention to retire.UNFI

Steven Spinner, chairman and CEO of United Natural Foods Inc. (UNFI), plans to retire next summer, and the company’s board of directors has begun a search for a new chief executive.

Plans call for Spinner to step down as CEO on July 31, 2021, or earlier if UNFI appoints a successor, the Providence, R.I.-based distributor said late yesterday. Spinner has agreed to remain as executive chairman after a new CEO.

UNFI had announced in early February that it extended Spinner’s contract as chief executive to July 31, 2021. The company said yesterday he informed the board of his intention to retire after the contract expires.

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Spinner (left) has served as UNFI’s CEO since September 2008 and as chairman since December 2016. He also served as president from September 2008 to August 2018, when Christopher Testa took over that role.

“Over the last 12 years, Steve has made many valuable contributions to UNFI, including growing our customer base, adapting our business to the demands of the digital marketplace, executing on value-enhancing acquisitions and, most recently, fulfilling UNFI’s role as a critical link in the North American food supply chain during an unprecedented global pandemic,” Peter Roy, lead independent director on UNFI’s board, said in a statement. “Throughout his tenure, Steve has methodically and consistently led UNFI to new heights, increasing annual sales from $3 billion to over $26 billion today. At the same time, Steve has fostered a strong set of core values across the company, building and inspiring a talented team around him and living UNFI’s commitment to serve our customers and the communities in which we operate.”

Related:UNFI names Guillaume Bagal vice president of diversity & inclusion

UNFI said it has retained a leading executive search firm to assist in the CEO succession process. The search will include internal and external candidates, the company noted.

“The board is conducting a comprehensive search to identify the best candidate to serve as our next CEO, and we look forward to continuing to benefit from Steve’s strategic oversight and institutional knowledge as executive chairman,” Roy stated.

Spinner commented on his retirement Tuesday morning in a conference call with analysts on UNFI’s fiscal 2020 results. He noted that UNFI has shifted into a growth mode since winding down the integration of Supervalu, a $2.9 billion acquisition deal that closed in October 2018.

“I couldn’t be happier with our leadership team, old and new, and the strong governance and operating disciplines in place. I have complete confidence that UNFI will continue to grow and innovate and lead our industry into the future,” he said. “And our future has never been greater as we neared completion of UNFI integration activities and move our attention to expansion of our services technology and e-commerce services business. 2020 demonstrated that all the work done during the last several years around holistic wholesale business was the right strategic decision.”

Related:At UNFI, John Howard named CFO and Eric Dorne COO

At this stage of its growth, UNFI is primed for new leadership, Spinner said. This year, the company has announced a series of appointments in its C-suite, including a new chief operating officer and a new chief financial officer, a new chief information officer, a new chief supply chain officer and a new chief marketing officer, as well as a new Canada president.

“Within a year feels like the right time to turn things over to the next generation of leadership. I’m excited to remain involved in our continued journey as executive chairman, and we will work to ensure a smooth transition,” Spinner told analysts. “I will also remain involved in the search for talented new board members who will share our passion for the business and will contribute their talents to support our growing business. The future of UNFI has never been stronger. As we think about the next decade, UNFI will continue to lead by remaining true to its culture while advising investments in supply chain technology and a commitment to bring value to its customers every single day.”

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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