Charlie Jenkins Jr. to Replace Howard Jenkins as Publix CEO; Howard to Remain as Chairman of Publix Board.

Business Editors

LAKELAND, Fla.--(BUSINESS WIRE)--May 15, 2001

Howard Jenkins, chairman of the board and chief executive officer of Publix Super Markets Inc. announced his intention to not seek re-election as chief executive officer at today's stockholders' meeting. With this move, Howard will not be involved in the day-to-day management of the company, but he will continue as chairman of the board of directors. Jenkins will be replaced as CEO by his cousin, Charlie Jenkins Jr., a 32-year veteran of the company who most recently served as chief operating officer and chairman of the executive committee.

Howard Jenkins, 50, plans to spend more time with his two young children. He emphasized that his decision to retire as CEO was not due to health reasons. He recently received a clean bill of health from his doctor.

During Howard's 11 years as CEO, the company experienced rapid growth. Sales almost tripled from $5.3 to $14.6 billion, and stores increased from 367 to 655 with the company's dramatic expansion into Georgia, South Carolina and Alabama. The price of Publix stock during this time increased in value from $8 per share (adjusted for a 5 to 1 stock split) to $48.50 per share.

Howard complimented the "tremendous team we have at Publix," led by Charlie. He added, "Publix is stronger than it's ever been. We are represented by more than 126,000 associates who work hard every day to uphold the strong tradition of quality and customer service that was established by my father."

Charlie, 58, was elected as CEO by the board of directors following the stockholders' meeting. Howard Jenkins said, "This will be a smooth transition for the company. I am extremely pleased with the leadership Charlie has shown over the years, and I am confident he will continue to lead us to even greater success."

Charlie began his career with Publix in 1969 as assistant to the vice president of real estate. In 1974, he became vice president of real estate and was elected to serve on the board of directors. He was promoted to executive vice president in 1988. Two years later, he became chairman of the executive committee. Since June 2000, Charlie has been chief operating officer and chairman of the executive committee.

"I'm delighted to take on this new and exciting role at Publix," Charlie said. "While we will miss Howard on a daily basis, his continued leadership as chairman of the board will allow us to continue to make Publix the place where shopping is a pleasure."

As CEO, Charlie will be in charge of overall company operations. Ed Crenshaw and Barney Barnett will continue in their roles as president and vice chairman.

Publix is owned and operated by its more than 126,000 employees, with 2000 sales of $14.6 billion. Currently Publix has 655 stores in Florida, Georgia, South Carolina and Alabama. The company has been named one of America's top 10 places to work in the book, "The 100 Best Companies to Work for in America" as well as one of the top companies in Fortune's recent list of best workplaces. In addition, Publix's dedication to superior quality and customer service is recognized as tops in the grocery business, most recently by an American Customer Index survey.