SpartanNash Chief Merchandising Officer Bennett Morgan will leave the company on April 25, the grocery retailer and wholesaler reported in a March 26 filing with the Securities and Exchange Commission.
Morgan, who joined the company just over three years ago and also holds the position of executive vice president, is working with the grocer “to ensure an orderly transition,” SpartanNash said, without specifying why he is leaving.
SpartanNash noted, however, that Morgan will receive payments reflecting the fact that his departure reflects “a qualifying termination of employment.” That makes him eligible for separation payments of nearly $1.5 million, according to SpartanNash’s latest proxy statement, which the company filed with regulators Tuesday. Morgan’s compensation package for 2024 totaled more than $1.3 million, according to that document.
When SpartanNash announced in January 2022 that it was hiring Morgan, the Michigan-based company pointed to his experience working for Amazon, Walmart and H-E-B and noted that it expected him to “play a critical role in driving innovation for our customers and excellence with our in-store experience.”
SpartanNash’s retail business has recently served as the company’s growth engine. Sales for that part of the company were up during its latest quarter while its wholesale operations, which reflect the majority of its revenue, declined. The company acquired several retail chains last year, but in January disclosed plans to close four supermarkets.
SpartanNash’s disclosure that it is parting ways with Morgan comes just two weeks after the company said that Chief Strategy and Information Officer Masiar Tayebi will depart on April 11. The company did not say why Tayebi is giving up his position on its executive team.
