The Kroger Co. (NYSE: KR) Friday (14 September) announced that Lawrence M. Turner, who has served as Treasurer since 1984, plans to retire in early 2002 after 28 years with the Company.
Mr. Turner, 54, will take early retirement from his full-time position on January 5, 2002. However, he will be available to assist on corporate refinancing projects through June 2002.
Scott M. Henderson, 45, will succeed Turner as Vice President and Treasurer. He previously served as Vice President of Planning since March 2000. Prior to that, he was Vice President and Regional Controller, based in Hutchinson, Kansas. Mr. Henderson joined Kroger in 1981 as Manager of Financial Reporting in Cincinnati. He later was promoted to Vice President and Controller for Dillon Companies, Inc., a wholly owned subsidiary of Kroger based in Hutchinson. He is a graduate of Miami University and a Certified Public Accountant.
“During his career, Larry Turner has played an important role in shaping Kroger’s capital management, corporate finance, investor relations, pension investment and treasury programs, and we’re grateful for his contributions,” said Michael Schlotman, Kroger group vice president and chief financial officer. “We’re confident that Scott’s planning and finance experience will ensure a smooth transition.”
Mr. Turner, who taught college economics prior to joining Kroger in 1974, plans to return to university work in Texas after his retirement from Kroger. Headquartered in Cincinnati, Ohio, Kroger is one of the nation’s largest retail grocery chains. At the end of the first quarter, the Company operated 2,380 supermarkets and multi-department stores in 32 states under approximately two dozen banners, including Kroger, Ralphs, Fred Meyer, Food 4 Less, King Soopers, Smith’s, Fry’s and Fry’s Marketplace, Dillon, QFC and City Market. Kroger also operates 788 convenience stores, 407 fine jewelry stores and 41 food processing plants.