A retirement was announced earlier this week from Trader Joe’s, as Dan Bane will be stepping down from his role as Chief Executive Officer. Bryan Palbaum will be succeeding Bane as Chairman and CEO, and Jon Basalone will be taking on the titles of Vice CEO and President.
“We are thankful for Dan’s leadership over the past 22 years. Jon and I look forward to working with all crew members to continue to grow Trader Joe’s,” Palbaum commented on his transition. “We remain focused on providing customers with exciting products at great values while being true to the seven values that will continue to guide Trader Joe’s.”
Palbaum has been with Trader Joe's for more than 20 years, a press release stated. For the last 10 years, he has been President and Chief Operations Officer.
As noted in the release, Basalone will also be taking on new roles within the company. He will be promoted to Vice CEO and President. Basalone has been with the company for more than 33 years, starting as a store Crew Member in Southern California. Most recently, he has been President of Stores.
As we noted above, this news came in tandem with the announcement of Bane’s retirement.
Bane has been with the company for more than 25 years, the last 22 as the Chairman and CEO. The company has since grown to be a national chain of 543 neighborhood grocery stores in 42 states, plus Washington, DC. The release noted that he championed a unique set of seven values that guide the company and help direct all associates.
In a message to Trader Joe’s crew members, Bane commented, “…I take great pride that together we have made Trader Joe’s the best grocery store in America. Thanks to all!”
Congratulations to all as they start their new journeys!