Tractor Supply ceo passes torch
Author: DSN Retailing Today

NASHVILLE, TENN. -- After guiding Tractor Supply Company for more than a decade, ceo Joe Scarlett will turn day-to-day leadership over to president Jim Wright next month to finalize a succession plan that has been in the works for some time.

Scarlett plans to remain active as chairman of the board even after the ceo title is transferred to Wright on Oct. 1. Wright joined the company four years ago as president and coo, having served previously as president and ceo of Tire Kingdom.

"I just felt it was the right time," Scarlett told DSN Retailing Today of his decision to step back. "I'm 61 and having a lot of fun. As we look to the future, I'm going to stay full-time and be Jim Wright's biggest supporter and cheerleader."

Tractor Supply Company has enjoyed phenomenal growth under Scarlett's leadership as ceo for the past 11 years. Revenue grew from $250 million to $1.5 billion and store count from 150 to 487 during that period. Tractor Supply recently made Fortune magazine's list of the 100 fastest-growing companies in the United States, coming in at No. 43.

Scarlett said he was confident of Wright's ability to keep the company on its strong growth path. Except for finance, Wright has been running operations at Tractor Supply the past 18 months. Both share similar visions for Tractor Supply, Scarlett said.