Canadian supermarket chain PriceSmart has announced a leadership transition, with David Price set to take over as CEO from his father, Robert Price, on 1 September 2025.
Robert, who has served as interim chief executive since February 2023, will step into the role of executive chairman.
“As I approach my 83rd birthday in 2025, the time is right for me to transition from day-to-day duties and become executive chairman of the board of directors,” said Robert Price.
“David and I have worked together on a daily basis for the past two years and I have kept a close eye on his progress during his almost decade with the company. I have complete confidence in his leadership, and I am thrilled that the PriceSmart board of directors has selected him as my successor.”
David Price, currently executive VP, chief transformation officer and a board member, has been with PriceSmart since 2017 and was appointed to the board in 2022. He stepped into his current roles in 2023.
Company president and COO John Hildebrant praised the move, commenting: “David Price is ideally prepared to assume the duties as our next chief executive officer.
“He has been inculcated in PriceSmart’s values by his father Robert and his grandfather Sol Price his whole life. The transition from Robert to David ensures continuity for our members, employees, and stockholders.”
Headquartered in San Diego, PriceSmart operates 54 membership warehouse clubs across 12 countries and one US territory, with new locations set to open in Costa Rica and Guatemala in 2025.
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