Maarten Jager, 52, has been named PriceSmart Inc.’s (Nasdaq: PSMT) newest executive vice president and CFO.
The San Diego-based PriceSmart, which owns and operates membership shopping warehouse clubs in Latin America and the Caribbean, made the announcement April 6.
Jager will be replacing John M. Heffner effective April 24. Heffner, who held that role since January 2004, had previously announced his plans to retire from the company, according to a news release.
Jager will be making a base salary of $600,000.
He’s currently serving as senior vice president of Walmart International, a segment of Walmart Inc., where he has worked since 2014. Jager also served as senior vice president and CFO of Sam’s Club from 2015 to 2018, and as senior vice president and CFO of the company’s Asia division from 2014 to 2015.
Previous experience includes working as a consultant to public and private companies and their executives providing guidance on growth, turnaround and organizational effectiveness, according to the news release.
Jager worked 14 years at Booz Allen Hamilton Inc. in various management and technology consulting positions before devoting six more years to Diageo North America Inc. to oversee many financial responsibilities.
PriceSmart announced that for the second quarter of fiscal year 2018, net warehouse club sales increased 5.7 percent to $816.6 million from $772.3 million in the second quarter of fiscal year 2017.
According to a company news release, total revenues for the second quarter of fiscal year 2018 were $839.6 million compared with $793.3 million in the comparable period of the prior year. The company had 40 warehouse clubs in operation as of February 2018 and 39 clubs in operation as of February 2017.