Tractor Supply Company Extends CEO Greg Sandfort’s Contract
August 23 2019 - 8:00AM
Tractor Supply Company (NASDAQ: TSCO), the largest
rural lifestyle retailer in the United States, announced today that
it has extended the employment contract with its Chief Executive
Officer, Greg Sandfort. The Board has retained Egon Zehnder,
an executive search firm, as part of its ongoing CEO succession
planning process. Mr. Sandfort will continue to serve as CEO
until a successor is appointed and will assist in the transition.
His contract was extended for a period of up to one year.
“Under Greg Sandfort’s leadership, Tractor
Supply has delivered exceptional financial results and built a deep
and talented management team. Given Greg’s track record of
success, it is clear that the Company and our shareholders will be
best served by his continued leadership as the Board conducts the
process of identifying a successor to lead Tractor Supply’s
continued growth and success,” said Cynthia Jamison, Tractor
Supply’s Chairman of the Board.
The Company also announced that Steve Barbarick,
President and Chief Operating Officer, has resigned effective
today, August 23, 2019.
“In his two decades with Tractor Supply, Steve
has made numerous valuable contributions to the growth and success
of the Company. On behalf of the entire Tractor Supply team,
we thank him and wish Steve and his family the very best in the
future,” said Mr. Sandfort.
About Tractor Supply
CompanyTractor Supply Company (NASDAQ: TSCO), the largest
rural lifestyle retailer in the United States, has been passionate
about serving its unique niche, as a one-stop shop for recreational
farmers, ranchers and all those who enjoy living the rural
lifestyle, for more than 80 years. Tractor Supply offers an
extensive mix of products necessary to care for home, land, pets
and animals with a focus on product localization, exclusive brands
and legendary customer service that addresses the needs of the Out
Here lifestyle. With nearly 30,000 team members, the Company
leverages its physical store assets with digital capabilities to
offer customers the convenience of purchasing products they need
anytime, anywhere and any way they choose at the everyday low
prices they deserve. At June 29, 2019, the Company operated 1,790
Tractor Supply stores in 49 states and an e-commerce website at
www.TractorSupply.com.
Tractor Supply Company also owns and operates
Petsense, a small-box pet specialty supply retailer focused on
meeting the needs of pet owners, primarily in small and mid-size
communities, and offering a variety of pet products and services.
At June 29, 2019, the Company operated 177 Petsense stores in 26
states. For more information on Petsense, visit
www.Petsense.com.
Tractor Supply CompanyContacts:Mary Winn
Pilkington (615) 440-4212Marianne Denenberg (615) 440-4345
Forward-Looking
StatementsCertain statements contained in this press
release are not historical facts and are forward-looking statements
within the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, as amended.
Forward-looking statements may be identified by words such as
“future,” “may,” “will,” “anticipate” or other comparable
terminology. Such statements include, but are not limited to,
statements about the Company’s expected growth, future success,
strategy, plans, intentions, or beliefs about future occurrences or
results. Because such forward-looking statements contain
risks and uncertainties, actual results may differ materially from
those expressed in or implied by such forward-looking statements.
All of the forward-looking statements are also qualified by the
cautionary statements contained in the Company’s Annual Report on
Form 10-K and other filings with the Securities and Exchange
Commission. The Company undertakes no obligation to revise or
update any forward-looking statements, or to make any other
forward-looking statements, whether as a result of new information,
future events or otherwise.
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