Nash-Finch (NAFC) Terminates CEO, CFO, Several Others at Sparton's Request
On September 27, 2013, at the request of Spartan Stores, Inc., a Michigan corporation (“Spartan Stores”), Nash-Finch Company (Nasdaq: NAFC) provided a Notice of Termination to each of Alec C. Covington, its President and Chief Executive Officer, Robert B. Dimond, its Executive Vice President, Chief Financial Officer and Treasurer, Kevin Elliott, its Executive Vice President, President and Chief Operating Officer, Nash-Finch Wholesale/Retail, and Calvin S. Sihilling, its Executive Vice President and Chief Information Officer, pursuant to each such executive officer’s respective Change in Control Agreement with Nash-Finch. Pursuant to the Notice of Termination, conditioned upon the merger of SS Delaware, Inc., a Delaware corporation and wholly-owned subsidiary of Spartan Stores, with and into Nash-Finch, with Nash-Finch surviving as a wholly-owned subsidiary of Spartan Stores, unless the executive officer voluntarily terminates employment earlier for “Good Reason,” such executive officer’s employment will be terminated effective December 31, 2013, except for Mr. Sihilling, whose employment will be terminated effective January 31, 2014. Mr. Covington will make himself available as an advisor to the surviving corporation on an as needed basis following the termination of his employment.
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