Business Services Industry
Spartan Stores' New Board of Directors Meets, Elects CEO James B. Meyer as Chairman
Business Wire, August 16, 2000
Business Editors
GRAND RAPIDS, Mich.--(BUSINESS WIRE)--Aug. 16, 2000
Spartan Stores, Inc. (Nasdaq:SPTN) today announced that the company's new Board of Directors met and elected James B. Meyer, Spartan Stores' President and CEO, as Chairman of the Board. The seven-member Board of Directors consists of three directors from Spartan Stores' Board, two directors from Seaway Food Town's Board and two newly elected outside directors.
Mr. Meyer said, "I am very honored to be elected Chairman by my fellow directors. I believe the company has assembled a well-balanced Board that is extremely capable of guiding Spartan Stores and representing shareholder interests during its first year as a publicly traded company."
Spartan Stores' Board of Directors consists of:
-- James B. Meyer (age 54) Mr. Meyer has been the Chief Executive
Officer of Spartan Stores since July 1997 and President and a
director of Spartan Stores since August 1996.
-- Alex J. DeYonker (age 50) Mr. DeYonker is a partner of Warner
Norcross & Judd LLP, a law firm in Grand Rapids, Michigan. Mr.
DeYonker has been a director of Spartan Stores since March
1999 and its General Counsel and Assistant Secretary since May
1995.
-- Elson S. Floyd, Ph.D. (age 44) Dr. Floyd has been the
President and a Professor of Education at Western Michigan
University, a liberal arts university in Kalamazoo, Mich.,
since August 1998. From August 1995 to August 1998, he was the
Executive Vice Chancellor and Clinical Professor of Education
from the University of North Carolina at Chapel Hill, also a
liberal arts university.
-- Richard B. Iott (age 48) Mr. Iott has served as Chief
Executive Officer and President of Seaway Food Town since 1996
and as a director of Seaway since 1987.
-- Joel A. Levine (age 61) Mr. Levine has served as a director of
Seaway Food Town since 1995. Since 1992, he has been Of
Counsel to the Toledo, Ohio, law firm of Spengler Nathanson
PLL.
-- Elizabeth A. Nickels (age 37) Ms. Nickels has been the
Executive Vice President and Chief Financial Officer of Herman
Miller, Inc. (Nasdaq: MLHR), an office furniture manufacturing
company, since February 2000. From 1993 to February 2000, she
was Vice President and Chief Financial Officer of Universal
Food Products, Inc. (Nasdaq: UFPI), a wood products
manufacturer.
-- Russell H. VanGilder, Jr. (age 66) Mr. Van Gilder is Chairman
of the Board of V.G.'s Food Center, Inc., a chain of 13
grocery stores in southeast Michigan. He has been a director
of Spartan Stores since 1970, serving as Vice Chairman of the
Board from 1992 to 1998 and Chairman from 1998 to 2000.
Mr. Iott and Mr. Levine were appointed to Spartan Stores' Board in conjunction with the merger agreement between Spartan Stores and Seaway Food Town. The other five directors were elected by Spartan Stores' shareholders on July 18th at the annual meeting of shareholders, taking office effective August 1, 2000.
Mr. Meyer's, Dr. Floyd's and Mr. Iott's terms on Spartan Stores' Board expire at the annual meeting of shareholders in 2003. Ms. Nickels's and Mr. VanGilder's terms expire in 2002, and Mr. DeYonker's and Mr. Levine's terms expire in 2001.
Based in Grand Rapids, Mich., Spartan Stores owns and operates 119 supermarkets and drugstores in Michigan and Ohio under the banners of Ashcraft's Markets, Family Fare Supermarkets, Food Town, Glen's Markets, Great Day Markets, and Pharm. The company also serves 400 independent grocery stores and 9,600 convenience stores as a wholesale distributor.
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