BOULDER, CO - Co-Founder of Alfalfa's Market, Mark Retzloff, has announced that he will be stepping down from his position as Chairman and CEO of the retailer over philosophical differences with fellow Board member Barney Feinblum, according to the Denver Post.
"You have to have a culture where [employees] like to be at work and are cared for and respected," Retzloff said. "I had one of the other board members whose style was pretty much the opposite of that. There was a conflict because of that."
"I don't think that was the reason at all for the decision," Feinblum disagreed. "Mark is a visionary and a big-picture guy. But he is not as good at operating the business on a day-to-day basis."
According to the Denver Post, Feinblum argued that the poor performance of Alfalfa's new Louisville location “probably affected” the Board's decision to have Retzolff step down.
With his departure, Alfalfa's board member James Searcy will take over his place as interim CEO and Chairman of the Board, a move which Retzloff spoke approvingly of in a statement.
"Alfalfa's has an excellent management team," he said. "I am very confident about their ability to operate the stores."
According to the Denver Post, Retzloff will still remain a shareholder and Board Member of Alfalfa in the wake of this decision.
The Daily Camera has also reported that on the day following Mark Retzloff's removal, three other Alfalfa managers were fired due to what Searcy called "a shift in the overall directon of the company." Whether this 'shift' will mean for the future however is still largely unknown.
Stay tuned to AndNowUKnow for any updates on this executive shakeup at Alfalfa's Market.
