WEST SACRAMENTO, Calif. — Raley's here said Friday William Coyne, president and chief executive officer since 2003, has resigned, effective today.
The company, which is privately held, said its board of directors will meet soon "to outline a plan for selecting a CEO," though it said there is no specific timeframe.
Succeeding Coyne on an interim basis will be Dave Clark, the company's chief operating officer.
In a message to the chain's employees, Coyne wrote, "I want to assure you that this is a personal decision that I feel is right for me and my family. I'll be monitoring your success from the sidelines and cheering you on every step of the way."
Coyne joined Raley's in 1997 as general counsel. He was appointed executive vice president, business development, in 2001, chief operating officer in February 2002, and president in April 2002, adding the title of CEO in December 2003. The company said Clark has held executive positions at Wild Oats, Jewel Cos., Bruno's and Cub Foods.
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