Chris Martin To Retire As Musgrave CEO
Musgrave Group plc, which owns the Centra, SuperValu, Mace and Daybreak brands as well as a number of other interests, has announced that group CEO Chris Martin is to retire from his role.
10 May 2019 | 0
Musgrave CEO Chris Martin has announced he is to step down from his role. Martin, who was made CEO in 2005, oversaw significant expansion in his 14 years at the helm, including last year’s acquisition of the Donnybrook Fair group of high-end grocery stores.
Upon the announcement, Nicky Hartery, chairman of Musgrave, said he wanted to thank Martin for his exceptional leadership over the past 14 years. “Chris has led the growth of outstanding grocery and foodservice brands,” Hartery said, “which are now in leadership positions in one of the most competitive markets internationally.
“He leaves the business in good shape with SuperValu and Centra both achieving record sales in 2018,” Hartery added. “On behalf of the Board and everyone at Musgrave, I wish Chris every success with his future plans.”
Chris Martin said that it was time to move on to “his next chapter” after 14 years. “Musgrave has been an important part of my life,” he said, “and I have had the privilege of working with exceptional colleagues, world class retailers and supportive shareholders. Through our purpose of ‘Growing Good Business’, we have worked together to build brands that are set up for long term sustainable growth and we have created a business that people can be proud of and which contributes significantly to local communities.”
Musgrave said that its board of directors has commenced a succession process and following an orderly transition, Martin would step down from the business at a future date to be confirmed.
Meanwhile, Martin’s announcement came at the same time the Musgrave Group announced its results for the financial year ending 29 December 2018. The group saw turnover grow by 3.8% to €3.9 billion, with profit before tax of €84.5 million, a 5.6% year-on-year increase.
Commenting, Chris Martin said that 2018 was another successful year for the company. “Despite very competitive markets, for the fourth year in a row we have reported increased profit,” he said, “with all our brands performing well and growing.
“We are successfully evolving our business to provide people with unique food experiences when, where and how they want them,” he added. “This is being delivered through investment in digital, a focus on innovation and with our retail partners who are responsive to the local needs of shoppers.”