Dive Brief:
- Gelson’s Markets has named Koichi Toyo as its president and CEO following the departure of Ryan Adams, who had helmed the company since April 2024.
- Toyo has been with Gelson's parent company Pan Pacific International Holdings for over two decades and currently also serves as president of Marukai Corporation, another retail business under Pan Pacific.
- This marks the latest shakeup at the top of the Southern California grocery chain. Two years ago, Gelson's named Adams as its CEO and also reshuffled several other top executive roles as part of a “strategic realignment.”
Dive Insight:
It’s unclear when Adams stepped away from the top role at Gelson’s and what the circumstances of his departure were. A spokesperson for the company has not responded to a request for additional information.
Adams, an Albertsons veteran, took over the top role from John Bagan, who had worked for the grocer for more than 20 years. Shortly after Adams’ appointment, Gelson’s announced the departure of four executives, including its chief information and supply chain officer. Shortly after that, the chain named two Albertsons vets to C-suite roles.
Toyo is also a seasoned retail executive. Marukai, the Pan Pacific division he currently helms, oversees more than a dozen grocery stores in California under the Tokyo Central and Marukai Market names, according to the company’s website. Marukai also operates a Tokyo Central store in Hawaii.
Marukai has operated since 1965 and claims to be one of the first Japan-based retailers to operate in the U.S. In addition to food, its stores offer imported Japanese products like cosmetics, home furnishings, electric appliances, clothing and stationery.
Pan Pacific, which also owns the popular Don Quijote chain, acquired Gelson’s in 2021 and said it planned to open additional stores. However, Gelson’s currently operates just one more store than it did at the time of that acquisition.
Earlier this year, Gelson’s sold an unprofitable store in Carlsbad, California, to Kroger-owned Ralph’s. It also opened a small format grocery store in Toluca Lake, California, in January.
Like other premium grocers, Gelson’s faces a challenging macroeconomic environment as consumers increasingly trade down to low-price retailers. Still, the chain has remained innovative, having recently opened its second ReCharge convenience store, which features dozens of electric vehicle chargers.
