SpartanNash Announces Executive Team Transitions
GRAND RAPIDS, MI - Key executive transitions will be taking place later this month as SpartanNash makes multiple strategic shifts. The retailer has named Jason Monaco as its new Executive Vice President (EVP) and Chief Financial Officer (CFO), effective March 22. Mark Shamber, the current EVP and CFO, will remain with the company through the end of April to assist with the transition. As CFO, Monaco will direct finance, mergers and acquisitions, treasury, internal audit, real estate, and risk management and will report to SpartanNash's President and Chief Executive Officer, Tony Sarsam.
Monaco most recently served as CFO for Dallas, Texas-based Cornerstone Chemical Company. He also served as CFO of Dallas-based Borden Dairy and held increasing executive leadership positions with Kimberly-Clark. During his tenure at Borden, Monaco was responsible for planning, implementing, managing, and controlling all financial and technology-related activities.
According to a press release, his strategic initiatives drove volume growth and execution of a critical supply chain productivity program resulting in significant cost savings. At Cornerstone Chemical, Monaco guided acquisition integration planning, facilitating 50 percent sales growth through capacity, fulfillment, customer transition, inventory management, systems integration, and organizational design.
"We look forward to having Jason join our team," noted Sarsam. "Jason has a proven track record of partnering with cross functional teams and digging deeply into the business to build systems, processes, and teams to develop and drive operational efficiencies. His extensive food distribution expertise at Borden Dairy, coupled with his deep financial background leading multiple global teams with Kimberly Clark, align with SpartanNash's future growth plans. On behalf of the board of directors and all of us at SpartanNash, I want to thank Mark for supporting this transition and for all his contributions over the last three years. We wish him well in his future endeavors."
SpartanNash also announced the promotion of Todd Riksen to Vice President, Corporate Controller, effective March 14. Riksen is assuming the position as part of the company's succession plan. In his new role, Riksen will oversee the company's retail, distribution, and corporate accounting and financial reporting, SEC reporting, tax compliance and tax planning, financial shared services, and will support the quarterly earnings reports, shareholder calls, and required filings.
Prior to joining SpartanNash, Riksen worked in the assurance practice at Ernst & Young serving publicly traded companies while based in the U.S. and in the Netherlands. Riksen is a certified public accountant and joined the company in April 2018 as Director of Financial Reporting and Corporate Accounting.
During his time at Ernst & Young, Riksen held roles of increasing responsibility, culminating with his role as Assurance Senior Manager.
Additionally, Tammy Hurley, Vice President of Finance and Chief Accounting Officer, is retiring on April 23 after 20 years with the company.
"As part of our people-first culture, we are grateful for Tammy's leadership, talent development, as well as the succession planning that will enable us to seamlessly make this transition," said Sarsam. "Todd is a key contributor and we are excited to have him overseeing our accounting group. He is well respected by our executive leadership team, co-workers, and customers; and we look forward to his future contributions."
Congratulations to all on these next steps in their careers!