JACKSONVILLE, Fla. – The chairman, president and chief executive officer of Winn-Dixie Stores will resign from the company following the completion of its planned merger with Bi-Lo.
Peter Lynch, who took over Winn-Dixie in 2004 and guided the Jacksonviille-based grocery chain through bankruptcy, announced the news in a letter to employees.
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"Having had the privilege to serve as Winn-Dixie's CEO for the last seven years, it is now time for me to seek new challenges," Lynch said in the letter.
Lynch told Winn-Dixie employees that Randall Onstead, the current chairman of Bi-Lo, will take over as president and CEO of the combined companies.
Onstead is the former chairman and CEO of Texas-based Randalls Food Markets, now owned by Pleasanton, Calif.-based Safeway.
Lynch has been in the grocery industry for more than 35 years, including five years as president and chief operating officer of Albertsons. He began his career at Star Markets Co., Boston, and also held executive positions at Jewel-Osco in Chicago and Acme Stores in Philadelphia.
Winn-Dixie filed for Chapter 11 bankruptcy protection in February 2005, shortly after Lynch took over, and emerged in November 2006. Last month, Winn-Dixie agreed to be acquired by Bi-Lo for about $560 million. That transaction is expected to close before April.