Trader Joe’s CEO Announces Retirement, Company Names Successor

Dan Bane, Chairman and Chief Executive Officer of Trader Joe’s, will retire effective July 2, 2023 (the company’s Fiscal Year End). 

At that time, Bryan Palbaum will become the Chairman and Chief Executive Officer and Jon Basalone will be promoted to Vice CEO and President of Trader Joe’s Company.

Dan Bane has been with the company for over 25 years, the last 22 as the Chairman and CEO. 

During that period, the company grew into a national chain of 543 neighborhood grocery stores in 42 states, plus Washington, DC.

According to the grocery company, Bane has championed a unique set of seven values that guide the grocery chain and help direct all crew members as they take care of millions of customers each week. 

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Trader Joe’s is among the fastest-growing and most successful companies in the grocery business.

“I take great pride that together we have made Trader Joe’s the best grocery store in America. Thanks to all!” said Bane.

For his part, Bryan Palbaum has been with the grocery company for more than 20 years. Palbaum has been the company’s President and Chief Operations Officer for the last ten years.

Jon Basalone has been with the company for over 33 years, starting as a store Crew Member in Southern California. Most recently, Jon has been President of Stores.

“We are thankful for Dan’s leadership over the past 22 years. Jon and I look forward to working with all Crew Members to continue to grow Trader Joe’s,” said Palbaum.

“We remain focused on providing customers with exciting products at great values while being true to the seven values that will continue to guide Trader Joe’s,” Palbaum concluded.

Monrovia, California-based Trader Joe’s operates 543 stores in 42 states and Washington, DC. The supermarket was founded in Pasadena, California, in 1967 by Joe Coulombe.