Important Updates on Co-op Operations

To Our Community,

I would like to share several brief updates with you today.

Co-op Market

I am happy to report that in the wake of an isolated COVID-19 incident at the Co-op Market two weeks ago, all four employees in close contact with the individual have been tested for the virus, and all four tests have come back negative. This week the Co-op Market returned to its regular business hours of 6 a.m. to 8 p.m.

This morning, Store Manager Caitlin Woodbury shared a high-level update with the leadership team about future options for the Co-op Market. Caitlin and her team have been working with teams from Marketing, Operations, and Merchandising using a tool called the Business Model Canvas.

A Business Model Canvas is a strategic-management template that breaks a business model down into several building blocks. It is a tool increasingly in use across the Co-op. Our Outreach and Marketing teams have used the model most recently when analyzing opportunities for our Service Centers (more below).

The goal is to look at customer segments and develop creative and innovative ways to deliver the services each segment is looking for.
This project is still in the early stages, so there will be much more to come. In the meantime, I would like to thank all involved for the excellent work.

Service Center

Based on survey data and customer feedback, our teams from Marketing and the Service Center are focusing on three broad areas: quick oil changes, new technology, and an enhanced physical space for customers. Our teams have made progress on all fronts, particularly customer spaces. Feedback we have received so far indicates that customers find these spaces much more open and pleasant. I will continue to update you moving forward.

Vaccinations

We now know that more than 30 Co-op employees took advantage of a vaccine clinic held this past Saturday. This is great news.

I applaud the fact that our employees are continuing to take steps to protect themselves, their families, colleagues, and the wider community.

At the Co-op, vaccines are not mandated, though we strongly encourage all employees to receive a vaccination as soon as it becomes available. I am set to receive my first shot this Saturday after the Annual Meeting (see below).

Annual Meeting and Voting

Finally, do not forget the Co-op Annual Meeting will be held by remote this Saturday, April 3. All are welcome to attend. Co-op members are also encouraged to vote for the Co-op Board of Directors.

All elections need to have at least 500 votes for the election to be deemed valid—your vote matters!

Members can vote in stores or online now through April 30. Please see our website for complete details on voting and the Annual Meeting.

Wrap Up

Thank you to our cooperative community, and as always, reach out to me anytime. Remember to be kind to one another and to yourselves, and we look forward to serving you in our stores and at the curbside.

Onward and upward,

Thanks,

Paul

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Paul Guidone

Paul Guidone, CFA, spent the better part of four decades in the investment management business here and abroad. He held positions ranging from analyst through Deputy Chairman and Group CEO, at organizations such as Citigroup (US) and The HSBC Group (London and Hong Kong). He joined the Co-op in 2016 as the CFO and in 2018 became Strategic Advisor to the General Manager. Paul was appointed by the Co-op Board as interim General Manager in March 2020 and General Manager in September 2020. To contact, email PGuidone@coopfoodstore.com.

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