Market Basket, a Nederland, Texas-based grocer, has promoted David Thompson to president and Greg Franz to chief operating officer for all of its stores across Texas and Louisiana, effective immediately.
Thompson and Franz represent the third generation of leadership at the company. Both were required to learn the business from the ground up, working across all store-level departments and locations and training alongside team members in daily store operations before advancing into leadership and supervisory roles.
Skylar Thompson remains CEO and will work with both men across administration and operations.
“David and Greg were raised in this business and guided by strong mentors and family leadership,” Skylar Thompson said. “They understand our responsibility to our customers, our employees and our communities. Their values, work ethic, and vision make them the right leaders to carry our legacy forward.”
As president, Thompson takes on overall leadership responsibility for the company while continuing to oversee maintenance operations.
As chief operating officer, Franz will oversee operations across the organization. He will continue working with division managers and the store operations and security departments.
Market Basket Foods traces its founding to 1962 in Nederland, when a group of independent grocers, among them Bruce Thompson and Ed Hughes, joined forces to pool advertising and purchasing. The privately held chain now operates more than 30 supermarkets in Southeast Texas and Southwest Louisiana.
The company is not affiliated with the Massachusetts-based Market Basket chain operated by DeMoulas Super Markets.