Tractor Supply Co. Extends Contract of CEO

Rural lifestyle retailer Tractor Supply Company has reached an extension agreement to retail Hal Lawton as the company’s president and CEO for another three years until 2026.

Since Lawton joined Tractor Supply Co. in January 2020 as president and CEO, the company says its net sales have increased 70% and diluted earnings per share have grown over 200%.

“This is an exciting time to be leading Tractor Supply, as we celebrate our 85th anniversary this year,” said Lawton. “I am grateful for the opportunity to continue to build on our resilient and proven business model. Together with our board, our leadership team and more than 50,000 incredibly dedicated team members, I believe we are well-positioned to continue to deliver long-term growth and value creation.”

In addition to approving the new deal with its CEO, Tractor Supply Co.’s Board of Directors elected long-standing member Edna Morris as chairman of the board. Morris will succeed Cynthia Jamison, who is retiring, effective May 11, 2023, following the 2023 Annual Meeting of Stockholders. Additionally, Tom Kingsbury has resigned, effective Feb. 6, 2023, as a member of the board of directors in order to focus on his new role as CEO at Kohl’s.

After a strong performance in 2022, Tractor Supply Co. has continued its growth in 2023. The company recently opened its new 900,000-square-foot distribution facility in Navarre, Ohio, located south of Akron. It is the company’s first distribution center to open since 2018.