Trader Joe's CEO to Retire

After a quarter century at Trader Joe’s – the past 22 serving as its chief executive – Dan Bane will retire on July 2, the grocery chain announced. 

Bryan Palbaum will become chairman and CEO and Jon Basalone will be promoted to vice CEO and president of Trader Joe's Company.

During Bane’s tenure as chairman and CEO, the company has grown to be a national chain of 543 locations in 42 states, and Washington, DC. He championed a set of seven values that guide the company and help direct all crew members. In a message to Trader Joe's crew members, Bane said, “I take great pride that together we have made Trader Joe's the best grocery store in America. Thanks to all!"

Palbaum has been with Trader Joe's for more than 20 years. For the past 10 years he has served as the company's president and chief operations officer. Basalone has been with the company for more than 33 years, starting as a store crew member in Southern California. Most recently he has been president of Stores.

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