EMERYVILLE, CA - Top level leadership has changed at Grocery Outlet. The company has announced that effective immediately, Eric Lindberg has been appointed Interim President and Chief Executive Officer, replacing RJ Sheedy, who has stepped down from the position and resigned from the company’s Board of Directors. The Board has now tapped a leading global executive search firm to begin the process of identifying a permanent CEO.
“On behalf of the Board, I want to express my deep appreciation to RJ for his contributions to Grocery Outlet over the past 12 years,” said Eric Lindberg, who is also currently Chairman of the Board. “RJ played a critical role in scaling and evolving our business and has set the stage for continued strong growth in the future. The fundamentals of our business—the significant value and treasure hunt shopping experience we bring to customers—remain strong and the runway in front of us is substantial. I look forward to working with our employees, independent operators, and supplier partners to deliver outstanding execution on our strategy and unlock Grocery Outlet’s earnings potential.”
With more than three decades of leadership experience at the Grocery Outlet, Lindberg brings a deep knowledge of its operations and strategy.
He previously served as CEO or Co-CEO from January 2006 through December 2022, during which he led Grocery Outlet’s transformation from a closely held family-owned business to a sponsor-backed private company, taking on significant outside capital from Berkshire Partners and Hellman & Friedman, and then ultimately to a publicly traded company in 2019, a press release explained.
“Grocery Outlet is an exceptional business with an almost 80-year track record of generating outsized growth and returns through its highly differentiated business model,” said Erik Ragatz, Lead Independent Director. “We are fortunate to have a leader of Eric’s quality and experience to shepherd this transition. The Board looks forward to working with Eric to drive the business as we search for our next leader who will guide our mission of 'Touching Lives for the Better,' delivering Grocery Outlet’s unique offering to millions of existing and new customers and, in the process, producing outstanding returns for our shareholders.”
Under Lindberg’s leadership, Grocery Outlet increased its store count by more than 250 percent and its net sales by nearly 500 percent, expanding to markets across the country. Lindberg has served as a Director since January 2006 and as Chairman of the Board since January 2023.
To read the full release, click here. We will keep you covered on all industry updates, so flip back to our pages.
