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TRACTOR SUPPLY Nashville, Tennessee Big Spending Ahead For Upgrades, Stores.(A)
Byline: KIRK SHINKLE
Looking for signs of a busy company? How about a new chief executive, a new store design and a slew of new store openings?
All of that will take place at Tractor Supply during the coming months. Some of the moves will negatively impact third-quarter results, but executives say it's all part of the bigger picture.
On Oct. 1, President Jim Wright will take over as CEO. He's been with the company four years. Wright will replace Joe Scarlett, 61, who's worked with Tractor Supply for 25 years, including the last 11 in the top post.
Scarlett, who'll stay on as chairman, sounds confident the transition will be smooth.
"I've built a fabulous team," Scarlett said. "We brought Jim on board . . . with the goal of him bringing more structure to the leadership team -- which he's done -- and with an eye to him eventually being CEO."
Wright already had been handling pretty much everything except the financial part of the business. He's credited with helping the company maintain steady financial growth the past several years.
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