VILLAGE SUPER MARKET, INC. (NASDAQ:VLGEA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September25, 2017, Village Super Market, Inc. announced that James Sumas has notified the Board of Directors of his decision to step down as Chief Executive Officer and Chairman of the Board of Directors effective December 15, 2017 and not to stand for re-election to the Board of Directors at the 2017 Annual Meeting of Shareholders to be held on December 15, 2017.
James Sumas was elected Chairman of the Board in 1989 and named Chief Executive Officer in 2002. He has served variously as Vice President, Treasurer and a Director of the Company since its incorporation in 1955. The Board of Directors is pleased to announce that in recognition of his contributions to the Company over 62 years of service, the Board has appointed Mr. Sumas Chairman Emeritus effective December 15, 2017.
The Company also announced that the Board plans to appoint Robert Sumas as Chief Executive Officer and William Sumas to serve as Chairman of the Board of Directors effective December 16, 2017, when James Sumas’ term expires.
Robert Sumas has served as President since 2009. He has served variously as Executive Vice President, Chief Operating Officer, Secretary and a Director of the Company since 1969. William Sumas has served as Vice Chairman of the Board since 2009. He has served as Vice President and a Director of the Company since 1980. Since 1989, he has served as an Executive Vice President.
Item 5.02Financial Statements and Exhibits
VILLAGE SUPER MARKET INC ExhibitEX-99.1 2 a092517exhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1VILLAGE SUPER MARKET,…To view the full exhibit click
About VILLAGE SUPER MARKET, INC. (NASDAQ:VLGEA)
Village Super Market, Inc. (Village) is engaged in retail sale of food and nonfood products. As of July 30, 2016, the Company operated a chain of 29 ShopRite supermarkets, 18 of which are located in northern New Jersey, eight in southern New Jersey, two in Maryland and one in northeastern Pennsylvania. The Company is a member of Wakefern Food Corporation (Wakefern), which is a retailer-owned food cooperative and owner of the ShopRite name. As of July 30, 2016, Wakefern operated 336 supermarkets and other retail formats, including 94 stores operated by Wakefern. The Company’s stores include the Village Food Garden concept, featuring a restaurant style kitchen and several kiosks offering a variety of store prepared specialty foods for both take-home and in-store dining. The Company offers a range of products, including groceries, dairy and frozen, produce, meats, non-foods, deli and prepared food, pharmacy, seafood, bakery and liquor.