Tractor Supply Co. begins search for a new CEO
Tractor Supply Co.’s succession plan has gone a bit off track.
The nation’s largest rural lifestyle retailer announced that it extended the current employment contract of CEO Greg Sandfort for a period of up to one year while an executive search firm looks for a successor. The news came as Tractor Supply also said that president and COO Steve Barbarick, who has been with the company for 21 years, had resigned, effective immediately. It gave no reason for his departure. Barbarick, who added the title of COO last year, was widely viewed as next in line for the CEO spot.
Sandfort has led Tractor Supply since December 2012. Prior to that, he served as president and COO. He will remain in place until a new CEO is appointed, and will help with the transition.
“Under Greg Sandfort’s leadership, Tractor Supply has delivered exceptional financial results and built a deep and talented management team,” said Cynthia Jamison, chairman. “Given Greg’s track record of success, it is clear that the company and our shareholders will be best served by his continued leadership as the board conducts the process of identifying a successor to lead Tractor Supply’s continued growth and success.”
Tractor Supply offers an extensive mix of products for home, land, pets and animals with a focus on product localization and exclusive brands. As of 29, 2019, the Company operated 1,790 Tractor Supply stores in 49 states. It also operates Petsense, a small-box pet specialty supply retailer, with 177 Petsense stores in 26 states.
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