The Fresh Market names new CFO
The Fresh Market has a new Chief Financial Officer to lead it through its next phase of growth.
The company has appointed Oded Shein as its Chief Financial Officer to provide leadership and direction to the organization as it looks to profitably execute on its corporate growth strategy.
"Oded will be an essential contributor to the strategic direction of the company and ensure that the organization is aligned with our business objectives," said Larry Appel, Chief Executive Officer. "The combination of Oded's broad business experience and deep finance expertise will enable The Fresh Market to solidify our position in the marketplace as a unique, specialty retailer."
Shein brings more than 25 years of financial experience from a variety of retailers, including serving as Executive Vice President and Chief Financial Officer at Stage Stores, Inc., a Houston-based retailer that operates in 42 states through 764 specialty department stores and 59 off-price stores. In addition, he has held senior financial leadership positions at Belk, Inc. in Charlotte, N.C., and Charming Shoppes, Inc. in Bensalem, Pa.
The fresh-focused retailer has been working over the past few years to “reimagine” its shopping experience through such means as the addition of more convenience and health-and-wellness items, as well as price cuts. The company announced in July that it would close 15 stores.
“Over the last eight months, our company has been executing a turnaround plan, and we’ve seen great progress,” said Appel, who took the helm of the company last year. “However, for a variety of reasons unique to each retail location, that progress is not evenly distributed and, as a result, we have decided to close these long-term, underperforming stores. We will work to relocate as many impacted employees as possible to other stores within our footprint.”
The Fresh Market currently operates 161 stores in 22 states across the U.S.