BJ’s Wholesale Club Holdings Inc.’s board of directors has appointed President and CEO Bob Eddy as chairman of the board, effective June 15. Eddy will succeed Chris Baldwin, who will remain on the company’s board as a director.
Eddy, who has served on the board of directors since 2021, joined the membership warehouse club in 2007. He was named EVP and CFO in 2011 and was EVP, chief financial and administrative officer from 2018 to April 2021, when he was appointed president and CEO following the unexpected death of previous BJ's CEO Lee Delaney.
“We have observed Bob’s clear passion for the company in the boardroom as well as through the successful execution of our long-term vision,” said Rob Steele, the board’s lead independent director. “We believe that Bob’s role as chairman and chief executive officer will further strengthen the collaborative relationship between management and the board, balanced with appropriate oversight embodied in our independent directors and in my role as lead independent director. I look forward to continue working with Bob as chairman.”
Under Eddy’s leadership, BJ’s has celebrated myriad records in its fourth quarter and full fiscal year 2022, with continued club growth, comparable-club sales and all-time high renewal rates. As it expanded its footprint to new states and market areas, BJ’s also surpassed $1 billion in adjusted EBITDA for the first time in the company’s history.
“Bob’s strong leadership, strategic vision and deep commitment to BJ’s have played an integral role in the transformation of our business over the years,” said Baldwin, who was BJ’s CEO prior to Delaney’s promotion to the role. “Having worked closely with Bob over the past eight years, both as a fellow director and as part of the management team, I am confident that the combination of his leadership as chief executive officer and guidance as chairman positions the company well for long-term growth and value creation.”
BJ’s will release financial results for the first quarter of its fiscal 2023 on May 23.