Fleming Cos., the No. 1 U.S. grocery distributor, ousted Chairman and Chief Executive Mark Hansen a week after the company said it was the target of a Securities and Exchange Commission investigation.
The board decided that a management change was necessary, a spokesman said. Directors Peter Willmott and Archie Dykes will run the company until a new CEO is hired, Fleming said.
Shares of Lewisville, Texas-based Fleming fell 12 cents, or 5.7%, to $2 on the NYSE.