: United Natural Foods CEO to resign after less than 2 years in the role, and the stock gains

Shares of United Natural Foods Inc. UNFI rallied 2.6% in premarket trading Thursday, after the grocery wholesaler disclosed that Chief Executive Michael Stigers will resign, after less than two years in the role. Stigers, who has been CEO since August 2021, said he was leaving to “pursue another professional opportunity.” He will remain with the company until May 31. The stock has tumbled 43.4% so far in March, as the company reported disappointing quarterly results, to close Wednesday at the lowest price since January 2021. Since the end of August 2021, which was month Stigers became CEO, the stock has lost 47.7% while the S&P 500 SPX has lost 13.0%.

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