SACRAMENTO -- The president of Raley's Inc. has unexpectedly resigned as chief of the supermarket chain that has 149 stores in California, Nevada and New Mexico.
Michael J. Teel, whose grandfather founded the chain, is leaving the $3 billion West Sacramento company "to pursue personal endeavors," Raley's spokeswoman Carolyn Konrad said.
Teel could not be reached for comment.
William J. Coyne, the company's first general counsel and, since February, chief operating officer, was named president Friday.
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