Tractor Supply Company has extended the employment contract with its chief executive officer, Greg Sandfort. The board has also retained Egon Zehnder, an executive search firm, as part of its ongoing CEO succession planning process.
Sandfort will continue to serve as CEO until a successor is appointed and will assist in the transition. His contract was extended for a period of up to one year.
“Under Greg Sandfort’s leadership, Tractor Supply has delivered exceptional financial results and built a deep and talented management team. Given Greg’s track record of success, it is clear that the company and our shareholders will be best served by his continued leadership as the board conducts the process of identifying a successor to lead Tractor Supply’s continued growth and success,” said Cynthia Jamison, Tractor Supply’s chairman of the board.
The company also announced that Steve Barbarick, president and chief operating officer, has resigned.
“In his two decades with Tractor Supply, Steve has made numerous valuable contributions to the growth and success of the company. On behalf of the entire Tractor Supply team, we thank him and wish Steve and his family the very best in the future,” said Sandfort.