Food solutions company SpartanNash added Greg Crane as Vice President, Finance – food distributiongoal. Crane will be the financial partner of Bennet MorganPlease and head of marketing and supporting the food distribution leadership team.
Crane’s role, effective June 6, includes leading budgeting, forecasting, monthly results analysis, and risk and opportunity assessment activities for the food retail industry. He will also provide thought leadership and financial advice on major strategic initiatives and day-to-day opportunities to improve efficiency and reduce operating expenses for the business.
For the first quarter ending April 23, SpartanNash reported that operating expenses were $422.4 million, or 15.3% of net sales, compared to $387.8 million last year, or 14.6% of net sales. The increase in expenses as a rate of sales was due to higher costs in retail stores and supply chain labor, higher fuel prices, incentive compensation higher and the costs associated with shareholder activism. In the food and military distribution segments, higher supply chain labor costs were partially offset by supply chain efficiencies achieved through the supply chain transformation.
Crane, a registered CPA, brings to his new role more than 15 years of financial and operational experience, with skills in financial management, strategic and financial planning, mergers and acquisitions, capital markets and performance optimization. Most recently, he was Chief Financial Officer of GHSP Inc. Prior to that, he spent nearly six years at Wolverine World Wide in various financial and management roles. Crane holds an MBA from the University of Michigan Ross School of Business and an undergraduate degree in finance and accounting from the University of Miami.
“Our finance department is critical to the success of the company’s mission to provide the ingredients for a better life,” said Jason Monaco, executive vice president and chief financial officer of SpartanNash. “We are delighted to welcome Greg to our team. His experience leading high-performing teams and developing strategies to improve financial performance and growth will help us achieve our earnings goals and contribute to SpartanNash’s operational excellence.
SpartanNash reported a 4% increase in net sales in its recent first quarter, reaching $2.76 billion. However, the company saw a slight drop in net profit from the year-ago quarter, from $19.5 million to $19.3 million. SpartanNash is to hold a pivotal shareholder meeting on June 9.
SPartanNashThe principal businesses of include the distribution of grocery products to independent and chain retailers, its corporate-owned retail stores and US military commissars and exchanges, as well as the distribution of fresh produce and the processing of fresh food. #41 on The PG 100, Progressive Grocer’s 2022 List of leading food and consumables retailers in North America, the Grand Rapids, Michigan-based company serves customer sites in all 50 states and the District of Columbia, Europe, Cuba, Puerto Rico, Honduras, Iraq, Kuwait, Bahrain, Qatar and in Djibouti. SpartanNash also operates 145 supermarkets and employs 17,500 associates.