Greg Sandeno, president and CEO of CandK Market Inc., announced his resignation Friday - the latest casualty as the Brookings-based company navigates its way through Chapter 11 bankruptcy.
Earlier this week, the grocery company, which operates 45 grocery stores in Oregon and California, announced layoffs for 45 employees at its corporate offices in Brookings and Medford.
Sandeno, who joined the company in 2005, will leave his position Jan. 31 but will stay on for a few months in a consulting role as the company finalizes its restructuring plan.
"My wife and I have truly enjoyed our time and the employees at CandK," Sandeno said. "The employees are among the best I've had the opportunity to work with."
Sandeno said he and his wife are looking to move to the Midwest or East Coast to be closer to the their children and grandchildren and that he is already entertaining some potential opportunities.
He thanked the employees of CandK, the Nidiffer family and the city of Brookings for his time here.
CandK Market filed for Chapter 11 bankruptcy in federal court in Eugene in November 2013. The bankruptcy papers cited increased competition from Walmart and big-box stores, which had affected its ability to compete in many communities it had served. The company operates grocery stores under the names Ray's Food Place, Shop Smart and CandK Market.
Before the bankruptcy, the company had sold off its pharmacies, including Chetco Pharmacy in Brookings and Pharmacy Express in Harbor. It also had closed grocery stores in Smith River and Crescent City.
Since filing for bankruptcy, the company has closed 16 of its grocery stores, including the Shop Smart in Harbor.
"As the company emerges from its restructuring it is poised to be a stronger company with its 45 remaining stores," Sandeno said. "The needed reduction has set the company up for future success."
While the company seeks Sandeno's replacement, operations will be handled by Edward Hostmann, chief restructuring officer and Rocky Campbell, vice president of operations. Sandeno had served as President and CEO at CandK since May 2012. The company started in Brookings in 1956.