Natural Grocers chief financial officer to retire at the end of this year

Todd Dissinger, chief financial officer of Natural Grocers by Vitamin College, will retire on Dec. 31, the natural grocer recently announced.

Dissinger joined Natural Grocers in August 2015, when he was hired as vice president/treasurer after more than 18 years as an executive at The Bon Ton Stores. He became the chief financial officer at Natural Grocers on Jan. 1, 2018.

“Todd has been an invaluable member of our executive team, helping Natural Grocers to execute on its founding principles while achieving record financial performance and enhancing shareholder value," Kemper Isely, chairman and co-president, said in the statement announcing Dissinger’s retirement. In the company’s Proxy Statement, Dissinger’s age was listed at 66.

Natural Grocer’s stock closed at $23.59 on July 11; it closed at $18.93 on Dec. 29, 2017, the last trading day before he took his current position.

“I want to thank Todd for his many contributions to our success and wish him well in retirement. We are grateful for his dedication and continuing leadership throughout this transition,” Isely said.

In the same statement, Dissinger thanked Kemper Isely, other members of the Isely family, the company’s board of directors and others for their support.

“I am fortunate to have had the opportunity to conclude my career at a company with a long legacy, and a clear and consistent mission committed to the health and well-being of its customers, communities, and employees. I'm proud to have been part of that mission and success,” Dissinger said.

The company will contract with an executive search firm to find Dissinger’s replacement, according to the released statement.

Dissinger, Natural Grocers both benefit from his tenure

Around the end of February, the CFO sold 15,000 shares of common stock at an average price of $15.30 per share, according to documents filed with the U.S. Securities and Exchange Commission. He holds about 37,000 shares.

His base salary, effective Oct. 1, was $588,500, a 7% increase from his $550,000 base salary beginning Oct. 1, 2022. He received a cash bonus of $325,000 for fiscal 2023 and a $250,000 cash bonus for fiscal 2022. These bonuses were based on the company’s financial and operating performance in those years.

Natural Grocers reported in May that its second quarter net income was about $8 million, an increase of 35.3% compared with the same period in 2023. Net sales totaled $308.1 million, an 8.8% increase. Dissinger reported that customer traffic increased for the fifth consecutive quarter, reported Supermarket News, a New Hope Network sister website.

For the first half of the year, Natural Grocers reported net income growth of 52.4%, to $15.7 million, on a net sales increase of 8.2%, to $609.8 million, compared with the first six months of fiscal 2023, according to Supermarket News. The company plans to open between four and six new stores and relocate or remodel another four to six stores.

The grocer, which was founded in 1955 by Isely’s parents, owns and operates 168 stores in 21 states. It is based in Lakewood, Colorado.