Contact: Lori Willis
Director of Communications
Jan. 19, 2006
Scott Schnuck Rises to CEO at Schnuck Markets, Inc.
ST. LOUIS - After more than 30 years of helping guide his family's grocery company, Scott C. Schnuck, 55, today took the helm, becoming president and chief executive officer (CEO) of the $2.2 billion enterprise, Schnuck Markets, Inc. As part of the transition, his brother Todd R. Schnuck, 47, formerly chief financial officer, is now executive vice president.
The news came from former CEO Craig D. Schnuck, 57, now chairman of the 67 year old company. Craig announced the shift in responsibilities to a gathering of central office staff and store managers. Craig said after 17 years as CEO, he was ready to change roles and serve as chairman, maintaining responsibility for the company's continued growth and expansion.
Over the course of the next year and nearing the final stages of transition, company leaders anticipate the titles to reflect growth in their respective positions. Scott will become chairman and CEO and Todd will become president. At that time, Craig will become chairman of the executive committee, involved in matters relative to company growth, overall strategy and major decisions.
The brothers will continue to run the business as a family, but as part of the succession, Scott will take full responsibility for the direction of the organization and all operating aspects of the company. Todd will hold all administrative responsibilities including legal, human resources and finance, while continuing to provide financial oversight for the family's real estate activities.
Craig explained that the first discussions of transition were held shortly after he became CEO in 1989. "The family plan was for me to serve as CEO for approximately ten years," he continued, "I am privileged to have had the opportunity to lead the company; now it's time that Scott and Todd be given the opportunity to advance and show the depth of the experience they've gained. I believe this transition signals the start of a new and exciting era in our company's history."
All three brothers have held leadership positions with a number of community organizations, some of which have had significant regional impact. Craig is president of the executive board of the St. Louis Area Council of Boy Scouts of America. He also serves on the boards of US Bancorp, Washington University, Barnes-Jewish Hospital, the Food Marketing Institute, and the United Way of Greater St. Louis. He is a member of the executive committee and past chairman of Civic Progress.
Todd is a member of the executive committee of the United Way board of directors. He serves on the St. Louis Children's Hospital Resource Allocation Committee and has a leadership role in the hospital's current Capital Campaign. In 2005, he completed a three-year term as chairman of the St. Louis Metropolitan Urban League. Todd also serves on the board of managers of the University of Virginia Alumni Association as well as serving in an advisory position with the school's Jefferson Scholars Foundation and on the John Burroughs School board.
In addition to serving as the new CEO of Schnucks, Scott's responsibilities include serving as chairman of the Regional Chamber and Growth Association's (RCGA) board of directors, the Missouri Botanical Garden board of trustees, and the St. Louis Sports Commission. He is also a member of the board of trustees of St. Louis Children's Hospital.
Scott is excited about the role he will play in the company's future. "My brothers and Nancy and I are the third generation of Schnuck family grocers. We've been able to remain successful because of our ability to work together and to stay innovative in the face of industry change. I am looking forward to working with Craig and Todd as we continue to demonstrate that we know what it takes to stay competitive."
"Our greatest strengths are our associates, our heritage, our image in the community, our reputation as a quality grocer and the great locations of our stores," Scott Schnuck said. "In the years to come, we will continue to improve on the combination of quality, service, variety and value that sets Schnucks apart from others in the business and has helped to make us one of the most successful family-owned grocers in the industry."
Craig Schnuck has worked for his family company full-time, for more than 34 years. He was elected president and COO in 1984 at age 36. He was named president and CEO in 1989 and became chairman of the board and CEO in 1991. Throughout his career, Craig logged many milestones for the company. In 1970, while still in college, he helped his father and uncle solidify the deal to buy 25 under-performing Bettendorf-Rapp stores, doubling the company's size. The team returned the stores to profitability within six months.
In the late seventies, Craig inked a deal with Walgreen's that pioneered the combination food and drugstore concept in the St. Louis market. He led the initiative to buy National stores in 1995, negotiating with a number of parties including the Federal Trade Commission (FTC) for the opportunity that cemented Schnucks' position as market leader in its hometown of St. Louis. The Rockford, Ill. Logli acquisition followed in 1998, and in 2002, the Mid-South acquisition netted 12 new stores and five convenience/fuel centers.
Nancy Schnuck Diemer, 41, the youngest child of Doris and the late Don Schnuck, left her position as director of community affairs in 2001. In 2002, Terry Schnuck, 53, formerly Schnucks general counsel and corporate secretary, retired from the business at age 50. Both Nancy and Terry remain a part of the decision-making process for their family businesses. Their brother, Mark Schnuck, 49, is president and CEO of The DESCO Group, the family's real estate company. Mark is also involved in the decision-making process of the supermarket operation.
Founded in St. Louis in 1939, Schnuck Markets, Inc. currently operates 102 stores (including five Logli stores) and 99 pharmacies in Missouri, Illinois, Indiana, Wisconsin, Tennessee, Mississippi and Iowa. Schnucks is one of few family-owned grocery operations being run by its third generation. This month, Progressive Grocer Magazine and the National Grocer's Association named Schnuck Markets, Inc. "Outstanding Regional Retailer" of the year.
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