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• The Pittsburgh Post Gazette reports that "Laura Shapira Karet, who has served as the chief executive officer of Giant Eagle Inc. for 11 years, is no longer with the company, ending a decadeslong string of her family’s leadership of the grocer … The company appointed Bill Artman, formerly president of supermarkets, as interim CEO. Mr. Artman has been with the company in various roles for 40 years."
The story notes that "Giant Eagle was founded by five families in 1931 and was led by Ms. Karet’s father, David Shapira, from 1980 until 2011, and her grandfather, Saul Shapira, from 1968 until 1980. With Mr. Friedman replacing Ms. Karet as chairman of the board, this marks the first time that the company will have a non-family chair.
"No reason was given for the abrupt changes voted on by the board on Tuesday, and the new leaders were not immediately available for an interview." The only thing the board said was that it “determined to separate [Ms. Karet] pursuant to her contract."
However, in a prepared statement, Karet wrote:
""After much consideration, I've decided to move on to the next chapter of my life and leave Giant Eagle.
"My tenure at Giant Eagle has been incredibly rewarding, and I have been privileged to guide the organization through intricate challenges and unprecedented achievements. I am immensely proud of my colleagues and our collective efforts, which, thanks to our talent and tenacity, have allowed Giant Eagle to not only persevere but also flourish in recent years. Today, Giant Eagle boasts $11.5 billion in sales and operates nearly 500 stores.
"Our team consistently works to provide top-quality products and services to our customers and endeavors to make a positive impact on our communities. It has been an honor to contribute to this mission, and as I look ahead to my next chapter, I will be taking some much-needed time with my family.
"I would like to express my gratitude to all our Team Members for your unwavering commitment to our communities and for embodying the spirit of teamwork. I take great pride in what we have accomplished together.""
- KC's View:
I don't have any special insights into the machinations at Giant Eagle, but I would like to point out that in her statement, Karet went out of her way to praise the team and the organization, as opposed to trumpeting her own leadership and contributions.
Which is the way you're supposed to do it.