PROVIDENCE – United Natural Foods Inc. on Wednesday announced a new leadership structure that it says will allow the Providence-based grocery wholesaler to focus on four areas of the business with growth potential.
The restructuring is part of the company’s “Fuel the Future” strategy launched in 2021 and in preparation for the fiscal year that begins in August.
UNFI said leadership teams have been assigned to four “growth platforms”: services, wholesale, retail and corporate business transformation. Each team leader will report to CEO Sandy Douglas.
“We are on an aggressive path to drive shareholder value by helping to create sustainable, profitable growth with and for our customers and suppliers,” Douglas said in a statement. “With positive momentum and a $140 billion addressable market with significant opportunities for selling more to existing and new customers, we are well positioned to attain these objectives. Our high-performing, diverse leadership team, new organizational structure and value-based approach will ensure we are devoting maximum managerial talent and focus toward achieving these growth plans.”
Chris Testa will lead the services platform, responsible for the UNFI’s supplier services, professional services, e-commerce, and private- and owned-brands portfolio. The company said the platform is a key component of the company’s goal to create value for customers and suppliers by leveraging existing data and capabilities from its scaled and diversified operating business.
Steve Dietz will lead UNFI wholesale’s customer growth work while continuing to expand UNFI’s customer base and enhance support to existing and new customers. Mike Sturgis, CEO of UNFI subsidiary supermarket Cub Foods, will lead the retail platform.
The corporate and transformation platform will focus on value creation for shareholders, building capabilities for the future and long-term sustainable growth of customers and suppliers.
That platform will be led by John Howard (finance), Mahrukh Hussain (legal, real estate, cybersecurity), Matt Echols (communications, environmental, social and governance, government relations and industry relations and the UNFI Foundation), Danielle Benedict (communications, environmental, social and governance, government relations and industry relations and the UNFI Foundation), Louis Martin (strategy, transformation data, and digital experience) and Brendan Walsh (internal audit).
“Over the past six months we’ve sped decision-making and flattened our organization, brought in outside leaders to fill new roles, and elevated and focused existing UNFI leaders to create a diverse team that is aligned and motivated to deliver on our ‘Fuel the Future’ strategy,” Douglas said. “I’m confident our customers and suppliers will benefit with greater value and offerings to their businesses.”
UNFI announced its three-year “Fuel the Future” strategy in June 2021. Highlights of the plan include:
- Fulfill Power in Scale, optimizing UNFI’s far-reaching distribution network, maximizing capacity, and simplifying operations with higher levels of standardization, and making investments in technology.
- Unlock Customer Experience by expanding the company’s portfolio of brands, products and services while offering tailored solutions to help UNFI’s customers grow.
- Taste the Future, which invests in existing, high-margin growth platforms as well as developing new sources of revenue that further complement UNFI’s core wholesale business.
- UNFI Pride, focusing on UNFI’s people to deliver on UNFI’s core value of safety in the workplace, as well as continuing its culture and enhancing the overall associate experience; embracing and growing diversity of background, thought, and approach; and UNFI’s commitments to address climate change and food insecurity and injustice.
- Retail Optimization, advancing the retail business through investment in store upgrades, ecommerce and digital platforms combined with new sites.
- Earn Results, driving sustainable growth and stakeholder value, with the Fuel the Future plan helping deliver fiscal 2024 financial results, which are expected to include sales of over $30 billion and earnings per share of more than $5.25.
UNFI posted earnings of $67 million in the company’s fiscal third quarter that ended April 30, or 1.10 cents per diluted share. Company quarterly revenue totaled $7.24 billion, an increase from $6.6 billion one year prior.
