Grocery Outlet Announces Chief Financial Officer Charles Bracher Stepping Down, Interim Chief Named; RJ Sheedy Comments

Grocery Outlet Announces Chief Financial Officer Charles Bracher Stepping Down, Interim Chief Named; RJ Sheedy Comments

EMERYVILLE, CA - Grocery Outlet recently announced an executive transition is taking place. Charles Bracher, the company’s current Chief Financial Officer, will be stepping down effective March 1, 2024, to pursue another opportunity.

Charles Bracher, Chief Financial Officer, Grocery Outlet"It has been a privilege to serve as Grocery Outlet's CFO for the past 11 years as we've opened over 250 stores and grown net sales by nearly $3 billion," said Bracher. "I am proud to have been a part of exceptionally talented leadership, finance, and accounting teams, and am confident in Grocery Outlet's strategy to deliver long-term value to shareholders. I look forward to working alongside RJ, Lindsay, our Board, and our executive team over the next several months in support of the transition."

In order to find his replacement, Grocery Outlet will conduct a search with the assistance of a leading executive search firm.

Grocery Outlet's Chief Financial Officer Charles Bracher will be stepping down from his current role as CFO

Bracher will work closely with Lindsay Gray, who currently serves as Senior Vice President, Accounting (Principal Accounting Officer), through his transition, a press release explained.

RJ Sheedy, Chief Executive Officer and President, Grocery Outlet"Charles has been a remarkable leader throughout his tenure at Grocery Outlet, playing a significant role in several phases of growth and evolution, including the successful completion of our IPO in 2019," commented RJ Sheedy, President and Chief Executive Officer. "Charles has built an exceptionally talented team that is focused on executing our strategy and [fulfilling] our mission of Touching Lives for the Better. I would like to thank him for his invaluable contributions on behalf of all Grocery Outlet employees and independent operators. We are fortunate to have Charles' support through the transition, and I wish him all the best in the next chapter of his career."

If a new CFO is not appointed by March 1, Grocery Outlet will appoint Gray to serve as Interim CFO until a permanent replacement has been identified.

As new executive leadership gets underway, we’ll be on the lookout for more updates.

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