Grocery Outlet CEO Sheedy steps down; Lindberg returns as interim; Q3 sales +10.4%; FY EBITDA guidance cut

Grocery Outlet Holding Corp.

RJ Sheedy stepped down as President, CEO and director effective Oct 29, 2024.
Eric Lindberg, Chairman, appointed Interim President and CEO; previously CEO 2006-2022.
Preliminary Q3 FY2024 net sales ~$1.1B, +10.4% YoY; comp store sales +1.2%.
Full year adjusted EBITDA guidance reduced to below prior $252M-$260M range; net sales expected to exceed high end of $4.30-$4.35B.
Board engaged search firm for permanent CEO; Lindberg's compensation includes $79,166.67/month salary, up to $1.1875M bonus, $4.1M RSU.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed (interim)

Eric J. Lindberg, Jr.

Interim President and Chief Executive Officer

GO · Grocery Outlet Holding Corp.

Effective: 2024-10-29
Filed: October 30, 2024, 7:59 PM ET

On October 29, 2024, the Board appointed Eric J. Lindberg, Jr., 53, as Interim President and Chief Executive Officer, effective immediately.

Departed

Robert J. Sheedy, Jr.

President and Chief Executive Officer

GO · Grocery Outlet Holding Corp.

Effective: 2024-10-29
Successor: Eric J. Lindberg, Jr.
Filed: October 30, 2024, 7:59 PM ET

On October 29, 2024, Robert J. Sheedy, Jr. agreed to step down as the Company’s President and Chief Executive Officer and resign as a member of the Board, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Eric J. Lindberg, Jr. was appointed as Interim President and Chief Executive Officer at Grocery Outlet Holding Corp..

Action: appointed
Role: Interim President and Chief Executive Officer

Exact text from the filing

On October 29, 2024, the Board appointed Eric J. Lindberg, Jr., 53, as Interim President and Chief Executive Officer, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert J. Sheedy, Jr. departed as President and Chief Executive Officer at Grocery Outlet Holding Corp..

Action: stepped down
Role: President and Chief Executive Officer

Exact text from the filing

On October 29, 2024, Robert J. Sheedy, Jr. agreed to step down as the Company’s President and Chief Executive Officer and resign as a member of the Board, effective immediately.

View on SEC.gov

Grocery Outlet Holding Corp. filing history →

Source: SEC EDGAR

accession 0001193125-24-246957

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