Natural Markets Food Group, parent of the Mrs. Green’s Natural Markets chain, is expected to name a new CEO shortly to replace Robin Michel.
Michel, appointed CEO of the fast-growing natural and organic chain in late 2012, is transitioning to a senior advisor role with Catalyst Capital Group, parent of NMFG. She will continue to lend her expertise to other lines of business within the Catalyst portfolio, the company said.
The leadership transition was first reported by Food Trade News.
“As Natural Markets Food Group enters a new chapter of its growth strategy and market positioning, I am excited to transition from CEO to senior advisor and have the ability to look at other businesses,” Michel said in a statement. “The board and I both agree that now is the right time to add to our leadership team – this enables NMFG to continue its laser-focused approach on customers who value an organic and healthy lifestyle.”
Sources told SN the chain was expected to name a new CEO shortly.
Michel, a former president at Ahold's Giant-Landover chain and senior executive at Sears, has led Mrs. Green’s on an aggressive store expansion and building program, leading to new sites in Virginia, New Jersey, Chicago and Connecticut in recent months. The chain also launched a loyalty card and a profit sharing program for the first time. Michel also oversaw the wind-down of the hybrid Fresh & Green's chain, which NMFG operated in some former SuperFresh sites in Maryland and Washington, D.C.
“Given that NMFG has no debt on the balance sheet, EBITDA grew by 60% in 2013, and revenue is up 30% year-to-date; now is an opportunity to transition Robin to a new role and build off of the successes we have already seen,” Brian Shelton, CFO, said.
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