Christopher Baldwin to serve as executive chairman
The company also appointed Thomas Kingsbury, the former CEO of Burlington Stores Inc., to its board of directors. The moves are effective February 2.
“Lee’s strategic vision and leadership have been instrumental in the transformation of BJ’s Wholesale Club,” Baldwin said in a statement. “We’re on track to deliver our fourth consecutive year of record earnings with strong cash flow and membership at historic levels. Lee’s knowledge of all areas of our business and strong record of driving profitable growth make him the ideal leader for our company. I look forward to working closely with Lee to ensure a smooth transition as we continue our transformation.”
Delaney joined BJ’s in 2016 as executive vice president and chief growth officer. Before that he was a partner in the Boston office of Bain & Company, and a leader in the firm’s Consumer Products practice.
“This is an exciting time to be a part of BJ’s Wholesale Club, and I’m honored to lead this company and this great team,” Delaney said. “We have a strong growth strategy in place and will continue to focus on providing outstanding value and service to our members. I look forward to continuing to work with Chris as we take advantage of the opportunities ahead of us, producing profitable growth and shareholder value over the long term.”
Kingsbury replaces Cameron Breitner, who is stepping down from the board.
“I’m thrilled to have Tom Kingsbury join our board,” Baldwin said. “His deep understanding of value retail and track record of building shareholder value will be extremely valuable as we continue to transform BJ’s Wholesale Club.”
Kingsbury was CEO of Burlington from 2008 to 2019. Before that he was at Kohl’s Corp., where he served as senior sxecutive vice president for information services, e-commerce, marketing and business development. Kingsbury also held management positions with May Department Stores Co., and currently serves on Tractor Supply Co.’s board of directors.