Cub CEO Michael Stigers to step down at end of May

The CEO of Cub Foods is leaving the company at the end of May “to pursue another professional opportunity,” according to a filing with the Securities Exchange Commission.

Michael Stigers has been chief executive of the grocery store chain since 2019. He submitted his resignation notice to Cub’s parent company, Providence, Rhode Island-based United Natural Foods, Inc., on Monday, and he is scheduled to depart on May 31.

“Through many different leadership roles, Mike has had a tremendous impact on this company and so many of us,” said Sandy Douglas, UNFI CEO. “On behalf of our board of directors, senior leadership team and all UNFI associates, I thank Mike for his innumerable contributions, including his most recent leadership of CUB and Shoppers. Mike has helped both retail banners navigate significant change and has consistently demonstrated his commitment to the communities they serve, which has fostered continued customer loyalty. He has been a great partner to me and a respected industry leader.”

According to UNFI, Stigers has worked in the grocery industry for almost 50 years.

He joined SUPERVALU in 2011 as the president of Shaw’s/Star Market grocery stores in New England. He was later named the president of Cub, and served as executive vice president of Wholesale and Supply Chain Services until SUPERVALU was bought by UNFI in 2018.

While at UNFI, Stigers was named senior vice president of the company’s Fresh division from 2019-2020 in addition to being CEO of Cub, UNFI said.

Stigers made $2,073,970 total in Fiscal Year 2022 between his base salary, stock awards and bonuses, according to UNFI’s latest earnings statement.

Cub operates 79 grocery stores and 27 wine shops across Minnesota, according to the grocer’s website.

According to Wakefern Food Corp., which owns and operates ShopRite, Price Rite Marketplace, The Fresh Grocer, Gourmet Garage and Fairway Market stores, Stigers will serve as its next president effective June 1.