Village Super Market, Inc. Announces Executive Changes; Declares Quarterly Cash Dividends, Payable on January 24, 2019
December 17, 2018 at 05:05 pm EST
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On December 14, 2018, the Village Super Market, Inc. board of directors appointed Nicholas Sumas and John J. Sumas as Co-Presidents. Robert Sumas will remain Chief Executive Officer. In connection with these appointments, the positions of Chief Marketing Officer and Chief Operating Officer will be eliminated. Nicholas Sumas has served as Chief Marketing Officer since 2014, Vice President from 2007 through 2014 and has been a Director of the Company since 2009. John J. Sumas has served as Chief Operating Officer since 2014, Vice President from 2007 through 2014 and has been a Director of the Company since 2009. John J. Sumas will remain the company's General Counsel, a role he has served since 2007.
On December 17, 2018, the company announced that its Board of Directors declared quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share. The dividends will be payable on January 24, 2019 to shareholders of record at the close of business on January 3, 2019.
Village Super Market, Inc. is engaged in the retail sale of food and nonfood products. It operates a chain of approximately 34 supermarkets under the ShopRite and Fairway names in New Jersey, Maryland, New York and eastern Pennsylvania and four specialty markets under the Gourmet Garage name in New York City. It is a member of Wakefern Food Corporation (Wakefern), a retailer-owned food cooperative and owner of the ShopRite, Fairway and Gourmet Garage names. Wakefern operates supermarkets and other retail formats. It offers a variety of food products, including grocery, meat, produce, dairy, deli, seafood, prepared foods, bakery, and frozen foods as well as non-food product offerings, including health and beauty care, general merchandise, liquor, and 21 in-store pharmacies. Its Fairway Markets offer various natural, organic, specialty and gourmet products. Its Gourmet Garage specialty markets provides soups and prepared foods, meat and seafood, and charcuterie and gourmet cheeses.
VILLAGE SUPER MARKET, INC. 