Village Super Market, Inc. has announced a forthcoming change in leadership, with Robert Sumas, the current Chief Executive Officer and interim Chairman of the Board of Directors, set to step down from his positions effective December 13, 2024. However, he will remain with the company as a Senior Advisor and as a member of the Board of Directors. Robert Sumas has been with the company for a significant period, having served in various roles since 1969 and as CEO since 2017.
The company has also disclosed the appointments of John J. Sumas as the new Chief Executive Officer and Nicholas Sumas as President and Chairman of the Board of Directors, effective December 13, 2024. John J. Sumas has been a Director since 2009 and Co-President since 2018, and has held various supervisory positions since joining the company in 1987. Nicholas Sumas, a Director since 2009 and Co-President since 2018, has similarly held diverse supervisory roles since joining the company in 1994.
The announcement also includes a resolution from the Board of Directors not to fill the vacancy left by the passing of Board member William Sumas on July 11, 2024, reducing the number of members on the Board from ten to nine, effective immediately.
Village Super Market operates a chain of 34 supermarkets under the ShopRite and Fairway names in New Jersey, Maryland, New York, and eastern Pennsylvania, as well as three specialty markets under the Gourmet Garage name in New York City. The market has reacted to these announcements by moving the company's shares 1.5% to a price of $33.02. For the full picture, make sure to review Village Super Market's 8-K report.
