Milwaukee-based Roundy’s Inc., which recently cut its 2012 outlook and saw its stock downgraded by analysts, today announced a shakeup in management suite.
The company announced that Don Hamblen and Jessie Terry will join the firm as chief marketing officer and chief human resources officer, respectively, effective immediately.
Hamblen replaces Ronald Cooper, formerly group vice president of marketing. Terry replaces Colleen Stenholt, formerly group vice president of human resources.
Roundy’s stock recently plummeted to a 52-week low of $7.37 per share, down from a 52-week high of $12.50, after the parent company of Pick ‘n Save, Rainbow, Copps, Metro Market and Mariano’s stores in Wisconsin, Minnesota and Illinois cut its 2012 outlook.
Roundy’s said thrifty shoppers and price competition from other supermarket chains were weighing on its business.
Following the earnings report, at least three analysts downgraded Roundy’s, which operates 159 stores in Wisconsin, Minnesota and Illinois.
BB&T analyst Andy Wolf told MarketWatch.com that Wal-Mart, Target and Whole Foods Market have opened new stores in and around Milwaukee and Minneapolis, cities that are core markets for Roundy’s.
Roundy’s shares are now trading under their Feb. 8 initial public offering price of $8.50.
Hamblen has more than 25 years of marketing experience in the consumer goods and specialty retail sectors. Hamblen most recently was senior vice president of customer marketing for Family Dollar Stores.
Terry brings more than 17 years of human resource experience in the consumer products, retail and industrial sectors. From 2001 to 2012, Terry was with Kraft Foods Inc., having served most recently as senior human resource leader at Oscar Mayer, a Kraft business unit.
“We are excited to have Don and Jess join the Roundy’s team and welcome their extensive public company experience and perspective in marketing and human resources,” said Robert Mariano, Roundy’s chairman, president and chief executive officer. “Don will provide us with fresh marketing perspectives and ideas that will help us better understand and connect with our customers. Jess brings us strong human resource expertise to help us further build our team and drive organizational excellence that can support the growth of our business. We look forward to both of their future contributions.”
Roundy’s spokeswoman Katie Turner said Cooper and Stenholt “mutually agreed to retire.”