CEO Succession Billion+ Retailer
The Need
Bi-Mart approached Cowen Partners about conducting a CEO search to replace their long time CEO. After nearly 40 years at Bi-Mart it was time to pass the baton and without any clear internal successor, they needed help finding a qualified outside CEO candidate.
The Solution
It was clear from early on that this would be a search for both qualifications and cultural fit. Bi-Mart is a unique billion+ revenue employee owned retailer with deep roots in the region and the wrong external hire could spell disaster for the business. In collaboration with Bi-Mart’s executive team, Cowen Partners profiled their ideal candidate, matching required qualifications, company objectives, and culture fit. With this profile in mind, source companies including Kroger, Target, Costco, and Walmart were quickly identified which would net us these qualified candidates with a breadth of experience in merchandising, retail operations, grocery, hardlines, sporting goods, real estate, and sourcing. In a short four week span we were able to present a pool of qualified candidates with ties to the area, willing to relocation, and from companies with similar cultural values for Bi-Mart to choose from. Bi-Mart now has a CEO successor and has kicked off the next decade of executive succession planning.
About Bi-Mart
Founded in 1955, Bi-Mart is one of the pioneers of membership discount shopping. The Company operates a discount retail chain of over 70 drug and general merchandise stores. Members pay a one-time $5.00 fee for a lifetime family membership which entitles them to shop at any Bi-Mart store. With over 3,500 employees, Bi-Mart ranks 19th amongst discount and value retailers and is the 9th largest discount store pharmacy in the United States.
About Cowen Partners Executive Search
Cowen Partners is the nation’s executive search firm, enabling companies to harness the power of human capital to fuel their success. Cowen Partners gives our clients access to the top 1% of human capital to create opportunities that accelerate their growth and market share. With Cowen Partners, clients can grow at scale, create value, and drive results with world class talent. Our clients are both small and large, publicly traded, pre-IPO, private, and non-profit organizations.
Clients are typically $50 million to multi-billion dollar revenue Fortune 1000 companies or have assets between $500 million to $15 billion. Successful placements span the entire C-Suite and include VP and director level leadership roles.
With our proven processes and guaranteed results, we have successfully placed hundreds of candidates in industries including technology, healthcare, manufacturing, retail, financial services, and private equity.
Contact us if you would like help recruiting world class talent.
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