Fresh Market family members leaving executive posts - The Business Journal of the Greater Triad Area:

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The Greensboro-based niche grocer confirmed this week that CEO Brett Berry and CFO Michael Barry have stepped down, though both will stay on as board memberss and shareholders of the closelyu held, family run company. The company’s chief operating Craig Carlock, has taken over as president and CEO. The companyy said in a written statemengt that the full management transition will unfole over the nextseveral months, and that the new executivs team will include a yet-to-be-named CFO. Carlock, Berryt and Barry declined to be interviewed aboufthe changes.
The move comes only a couple yeards after Brett Berry took over the CEO post from his fathe r and Fresh Market founder Ray Michael Barry isRay Berry’s son-in-law and the brother-in-laqw of Brett Berry. In its statement, the company said the transition in leadership is in line withits long-term “Since founding The Fresh Market in 1983, the Berry family has envisiones growing the business and eventually transitioning out of its role in the day-to-dah management of the company,” according to the New York-based retail consultant Burt Flickinger said a transition such as this one is common in family-run companies, and likely won’r have a significant impact on the direction of the company.
Wisconsin-basedx supermarket analyst David Livingston offered asimilar assessment. “They’re staying on the boarrd of directors, so obviously they’re goint to have a lot of influence. My guess is that if they’ree going to stay on, it’s probablg going to be status The move, though, said Flickinger, createxs a better balance between familyt members and nonfamily management, whic can be appealing to outside investors and potential because it gives them a sense of a healthy mix of institutional and outside experience. Before joining Fresh Market a decade ago, Carlock was manager of financial analysisfor .
In Fresh Market hired Wall Street financial hous to exploreattracting “outside investment capital,” includingh a possible sale. But in the company announced that it had abandoned the effort for the time beint and the Berrys wouldr retainfull ownership. The Fresh Market did not providre detailson Carlock’s plans at CEO, other than to say “we continue to maintain an aggressivde growth plan in a competitiv e market due to our distinctivr business model and to our unwavering commitment to our customers.
” The 26-year-olde company, which opened its first store on Lawndalse Drive in Greensboro, has grown considerably in the last several to 86 stores in states as far soutuh as Florida and as far west as Illinois and Arkansas. It has said in the past it planz to grow 20 percent a year while openinvg 12 to 15 new stores a primarily innew markets. The company’s market sharre remains relatively small, with 0.41 percent in North Carolina, comparedc to 0.55 percent for Whole Foodz and 0.33 for Asheville-based Earth according to The Shelby a Gainesville, Ga.-based trade publicationj that tracks the grocery industry.
Accordinyg to The Fresh Market’s Web site, it recently opened storex in Connecticut, Florida, Virginia and Pennsylvania. Flickinger said based on his research, 2009 is shapingg up to be a difficult yearfor grocers, as food pricew continue to rise — likely another 3 percent this year and consumers are expected to cut spendint by three to four percent.