The planned retirement marks the conclusion of a decade-long tenure, including her role during the company’s transition to a public entity.
Karen Kochevar has formally notified the Company of her intention to retire from the Board of Directors upon the completion of her current term. She will not stand for re-election at the Company’s 2026 Annual Meeting, bringing to a close a decade of dedicated service marked by significant milestones in the Company’s evolution. Her decision aligns with the Board’s structured and forward-looking succession planning efforts, which are designed to ensure a seamless transition of leadership and governance while maintaining continuity and strategic oversight.
Ms. Kochevar’s tenure on the Board has been closely intertwined with one of the most transformative periods in the Company’s history. Over the past ten years, she has played an instrumental role in guiding the organization through its transition from a privately held entity to a publicly traded company. This pivotal shift required not only operational and financial restructuring but also the establishment of robust governance frameworks, increased transparency, and adherence to public market expectations. Throughout this journey, Ms. Kochevar’s experience, insight, and steady leadership proved invaluable.
Her contributions extended beyond oversight, as she actively participated in shaping the Company’s long-term strategic direction. During a time characterized by rapid growth, expansion into new markets, and evolving consumer demands, she brought a thoughtful and measured approach to decision-making. Her ability to balance risk management with growth opportunities helped position the Company for sustained success. Colleagues and fellow board members frequently recognized her for her collaborative spirit, sharp business acumen, and unwavering commitment to the Company’s mission and values.
In addition to her strategic input, Ms. Kochevar was deeply involved in strengthening corporate governance practices. As the Company matured, her guidance helped refine board processes, committee structures, and compliance measures to meet the standards expected of a public company. She also played a key role in mentoring newer board members and contributing to a culture of accountability and continuous improvement within the Board.
Her retirement reflects not only the culmination of a successful tenure but also a personal decision to step back after achieving significant professional milestones with the Company. By choosing to conclude her service at this juncture, she is enabling the Board to introduce fresh perspectives while preserving the institutional knowledge and strong foundation built during her time. The Company’s succession planning process ensures that her departure will be managed thoughtfully, with a focus on maintaining stability and advancing strategic priorities.
Brett Schulman, Co-Founder and Chief Executive Officer, expressed deep appreciation for Ms. Kochevar’s contributions, highlighting the lasting impact of her leadership. “We thank Karen for her long service on our Board and her guidance during a period of tremendous growth and change,” Schulman stated. “We are profoundly grateful for Karen’s service and her contributions over the years.” His remarks underscore the respect and admiration she has earned across the organization.
Under Ms. Kochevar’s tenure, the Company not only expanded its operational footprint but also strengthened its brand presence and competitive positioning within the industry. Her insights were particularly valuable during periods of uncertainty and transition, where her experience helped the Company navigate challenges while remaining focused on long-term objectives. Whether addressing market dynamics, operational scaling, or governance enhancements, she consistently demonstrated a forward-thinking approach.
The Company’s leadership and Board of Directors have emphasized that succession planning is an ongoing and proactive process. Ms. Kochevar’s planned retirement is part of this broader initiative, which seeks to align board composition with the Company’s evolving needs and future growth trajectory. By regularly assessing board skills, diversity, and experience, the Company aims to ensure it is well-equipped to address emerging opportunities and challenges.
As the Company prepares for the 2026 Annual Meeting, attention will also turn to identifying and nominating a qualified candidate to fill the upcoming vacancy. The Board is expected to prioritize individuals who bring complementary expertise, diverse perspectives, and a strong understanding of the Company’s strategic priorities. This deliberate approach reflects the Company’s commitment to maintaining a high-performing and effective Board.
While Ms. Kochevar’s departure marks the end of an important chapter, her legacy within the organization will endure. The systems, strategies, and governance structures she helped establish will continue to guide the Company’s operations and decision-making processes. Moreover, her influence can be seen in the collaborative culture and disciplined approach that define the Board’s work today.
In reflecting on her tenure, it is clear that Ms. Kochevar’s contributions have left a lasting imprint on the Company. Her leadership during a decade of transformation has helped shape a resilient and forward-looking organization, well-positioned for continued growth and success. As she steps down, the Company extends its sincere gratitude for her dedication, professionalism, and impactful service.
Looking ahead, the Company remains focused on building upon the strong foundation established during her time on the Board. With a clear strategic vision, a committed leadership team, and a robust governance framework, the organization is poised to navigate future opportunities with confidence. Ms. Kochevar’s retirement, while marking a transition, also serves as a testament to the effectiveness of thoughtful succession planning and the importance of evolving leadership to meet the demands of a dynamic business environment.
About CAVA Group:
CAVA is the category-defining Mediterranean fast-casual restaurant brand, bringing together healthful food and bold, satisfying flavors at scale. Our brand and our opportunity transcend the Mediterranean category to compete in the large and growing limited-service restaurant sector as well as the health and wellness food category. CAVA serves guests across age groups, genders, and income brackets and benefits from generational tailwinds created by consumer demand for healthy living and a demographic shift towards greater ethnic diversity. We meet consumers’ desires to engage with convenient, authentic, purpose-driven brands that view food as a source of self-expression. The broad appeal of our food combined with these favorable industry trends drive our vast opportunity for continued growth.
