Trader Joe's long-time CEO and the brains behind the 19-cent banana announces his retirement
Dan Bane, who has worked at Trader Joe's for 25 years, will retire on July 2, the company"I take great pride that together we have made Trader Joe's the best grocery store in America," Bane said, according to Trader Joe's."Thanks to all!"
With Bane's retirement will come the promotion of Bryan Palbaum to Chairman and CEO and Jon Basalone to Vice CEO, Trader Joe's said. In his quarter-century there, Bane left his mark on the California-based grocery chain. He made the call, for example, to sell Trader Joe's bananas individually for 19 cents each after seeing an elderly customer balk at a package of the fruit priced by the pound, he told a"I said, 'Ma'am, if you don't mind me asking, I saw you looking at the bananas but you didn't, you didn't put anything in your cart," he recounted on the podcast.
Under Bane, Trader Joe's stuck to a leaner operating strategy than most other US grocery stores. Its supermarkets are smaller than those owned by Kroger and Albertsons, for instance, and carry mainly the company's own products, from Oreo-like sandwich cookies called"Joe-Joe's" to a Charles Shaw-branded wine known as the
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