Todd Schnuck will take the reigns of Schnuck Markets Inc. from his older brother Scott in March, the company announced Thursday. Schnuck Markets is a privately-held and family-owned grocery store that is celebrating its 75th anniversary this year. The St. Louis-based company operates 100 stores and 95 in-store pharmacies across the Midwest.
Scott Schnuck, 63, had been chairman and CEO for almost eight years. He will remain the chairman and assist Todd Schnuck, 55, as he becomes CEO. Scott Schnuck will also help provide direction during the 75th anniversary and chair the 2014 United Way Campaign of Greater St. Louis.
Their older brother, Craig Schnuck, who had been CEO for 17 years before Scott Schnuck, will formally retire and become chairman emeritus. In addition, Anthony Hucker, who joined September as the executive vice president and chief strategy, will become executive vice president and chief operating officer.
Throughout 2013, Schnucks dealt with several lawsuits that resulted from 2.4 million payment cards that were compromised at Schnuck stores. The company settled a class-action lawsuit by agreeing to pay $10 to customers for each credit card or debit card that was compromised.