US food retailer Winn-Dixie Stores has announced that its CEO and president Allan Rowland is to retire at the end of the company’s fiscal year in June.

The company said it would promote Frank Lazaran, currently chief operating officer, to the positions of chief executive officer and president. Lazaran is scheduled to assume his new positions on 26 June, the beginning of Winn-Dixie’s new fiscal year.

Rowland, who joined Winn-Dixie as CEO and President in November 1999, will also resign from his seat on the company’s board of directors and Lazaran will be appointed by the board of directors to fill the vacancy.