Spartan Stores Announces Election of Three New Board Members and Appointment of Chairman; Strengthens Corporate Governance.Business Editors GRAND RAPIDS, Mich.--(BUSINESS WIRE)--Aug. 8, 2003 Spartan Stores, Inc., (Nasdaq:SPTN SPTN Scottish Polymer Technology Network SPTN Single Parent Travel Network SPTN Single Protocol Transport Network SPTN Shuttle Pointed Autonomous Research Tool for Astronomy (NASA; aka SPARTAN) ) today announced that its shareholders have elected Ms. M. Shan Atkins, Dr. Frank M. Gambino, and Mr. Timothy J. O'Donovan to the Board of Directors, bringing the number of independent directors to seven of the total nine directors. The three new members replaced board positions formerly held by Mr. James B. Meyer, Dr. Elson S. Floyd Elson S. Floyd is an American educator who took office as the 10th president of the four-campus Washington State University on May 21, 2007. He succeeded V. Lane Rawlins as the leader of Washington State’s land-grant research university. , and Mr. Richard Iott, whose terms of office had expired. "We are delighted to have Ms. Atkins, Dr. Gambino, and Mr. O'Donovan join our Board of Directors," stated Craig C. Sturken, Spartan Stores' President and Chief Executive Officer. "The new members bring a wealth of diverse career achievements and industry experiences that will benefit Spartan Stores as we work to strengthen our competitive position and capitalize on future growth opportunities. The election increases our independent directors by one and further strengthens our corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. ." Ms. Atkins is currently a principal of Atkins/Erbs Investments and formerly served as Executive Vice President, Strategic Initiatives for Sears Roebuck and Company. While with Sears Roebuck and Company, Ms. Atkins introduced a remodeling/redecorating superstore concept and developed numerous marketing and merchandising strategies that improved sales growth and market share. Ms. Atkins also served as Vice President and Partner of Bain and Company, Inc., of Boston, Massachusetts, an international strategic management consultancy, where she specialized in the consumer and retail industries. She holds a Masters of Business Administration from Harvard University. Dr. Gambino is Associate Professor of Marketing and Director of the Food Marketing Program at the Haworth College of Business at the Western Michigan University Western Michigan University, at Kalamazoo, Mich.; coeducational; founded in 1903 as Western State Normal School, became accredited in 1927 as a college, gained university status in 1957. and has been on the faculty since 1984. Prior to joining Western Michigan University, he had over 15 years of experience in the retail food industry with responsibility for merchandising, marketing, and operations. Dr. Gambino holds an undergraduate degree in Food Marketing from Western Michigan University, a Masters Degree in Business Management from Central Michigan University Central Michigan University, at Mount Pleasant, Mich.; coeducational; est. 1892 as a normal school, became Central State Teachers College in 1927, achieved university status in 1959. The university maintains a forest that is used for botanical and biological research. , and a Doctorate Degree in Human Resource Development from Western Michigan University. Mr. O'Donovan is President and Chief Executive Officer of Wolverine World Wide Wolverine World Wide NYSE: WWW is a footwear manufacturer. They have their own brand, Wolverine Boots and Shoes, and also make footwear for other companies, such as Caterpillar and Harley-Davidson. Wolverine also makes shoes and boots for the military. , Inc., a global footwear company that designs, manufacturers and markets casual shoes, outdoor and work footwear, slippers and moccasins. He previously served as Wolverine's Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and Executive Vice President, and has been a director for Wolverine wolverine or glutton, largest member of the weasel family, Gulo gulo, found in the northern parts of North America and Eurasia, usually in high mountains near the timberline or in tundra. since 1993. Mr. O'Donovan holds a B.S. Degree in Industrial Administration from Iowa State University Academics ISU is best known for its degree programs in science, engineering, and agriculture. ISU is also home of the world's first electronic digital computing device, the Atanasoff–Berry Computer. and an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration in Finance/Marketing from Michigan State University Michigan State University, at East Lansing; land-grant and state supported; coeducational; chartered 1855. It opened in 1857 as Michigan Agricultural College, the first state agricultural college. . He currently serves on the Board of Directors for the World Affairs Council World Affairs Council may refer to:
Mr. Sturken continued, "Each of these individuals bring specific expertise and insight of retailing, operations, or distribution functions, which are disciplines critical for our future success. We welcome them to our board with great enthusiasm and look forward to their contributions." Following the annual meeting of shareholders, the Board of Directors appointed Craig C. Sturken, Spartan Stores' President and Chief Executive Officer, Chairman of the Board. In a further move to strengthen corporate governance, the Board of Directors created a new Nominating and Corporate Governance Committee. This committee will assist the Board of Directors in fulfilling its responsibilities to govern the company in a manner consistent with the interests of the shareholders and to improve the quality of stewardship provided by the board. The committee's charter gives it broad power over corporate governance. The committee will have authority to develop and administer a corporate governance policy and will be responsible for board and committee structure and membership, director nominations, evaluation of directors, committees, and the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and continuing education of directors. The committee will be comprised entirely of independent directors. Gregory P. Josefowicz was appointed chair of the committee. Grand Rapids, Michigan-based Spartan Stores, Inc., (Nasdaq:SPTN) is the nation's ninth largest grocery distributor with warehouse facilities in Grand Rapids and Plymouth, Michigan. The Company distributes more than 40,000 private-label and national brand products to 330 independent grocery stores in Michigan. Spartan Stores also owns and operates 55 retail supermarkets and 21 deep-discount drug stores in Michigan and Ohio, including Ashcraft's Markets, Family Fare Supermarkets, Glen's Markets, Great Day Food Centers, Prevo's Family Markets and The Pharm. Note to Editors: In the first paragraph, there should be a caret symbol above the "a" in "Shan." This was omitted for transmission purposes. |
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