Main RMI Number
408-554-4960
SCU - St. Joseph's Hall
Room # 108
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Retail Management Institute Newsletter -Fall '03
Advisory Board Profile: Dan Bane - Chairman & CEO of Trader Joe's - "One vision is what keeps our team together"
By Denise Bertuccelli '06
Dan Bane,
Chairmanand CEO
ofTrader Joe's
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Dan Bane, the chairman and CEO of Trader Joe's, is a prime example of the success the retail industry offers to someone who is dedicated. He was appointed to his position as CEO in 2001 after years of experience in the business world.
Bane graduated in 1969 from the University of Southern California with a BS in Accounting. After graduation he went into the accounting business working for various southern California firms. While out in the accounting field, Bane had the opportunity to work directly with two different types of businesses: retail and law firms. He was able to discover his passion for working with people rather than numbers, and decided it was time for a change. It was time to work in an industry that worked for the people.
Bane started at Trader Joe's in 2001 as the president of Trader Joe's West. The company is divided into western and eastern regions. At the time, Bane held responsibility for the western region, consisting of over 100 stores. He was responsible for overseeing buying, real estate, marketing, operations and more.
Now, with experience as chairman and CEO of such a company, Bane says that “one vision” is what keeps the Trader Joe's team together. Bane heads up both the east and the west, which makes up 205 stores total. That’s a lot of people to keep on the same page.
Bane shared his and the company’s philosophy on how to work as a team. “We focus on doing it better than the day, month and year before.” Every employee of the company is held to a certain set of values, which they base their decisions upon. He says that it is his job to see that those values are held to standard. “It’s about keeping people on track.”
Keeping people on track means there is a lot of personal attention given to Bane’s associates, both at the corporate and store level. How many CEO’s do you know who visit each of their stores three to four times a year? Well, Bane is one of them. He spends two to three days a week physically in the stores. He takes on such tasks as bagging groceries, greeting customers, or talking to them about what they liked or did not like. Bane shares that the highlight of his job is working one on one with not only the employees but also the consumers.
When Bane is not visiting the stores, he is in the office taking care of emails, meetings, phone calls and letters. Creating an even more personal environment within the company, Bane and his associates do not have secretaries. (If you write a letter to him, his response letter will be addressed by hand.)
Dan Bane is thankful to be a part of such a great company. He considers his time at Trader Joe’s the highlight of his retail career. He considers his job "the best job in America." |
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RMI Newsletter
