CHAPTER 3
Tenure’s Effect on Market Performance
The career path of Clayton Hollis, Jr., of Lakeland, Florida, is a quintessential outlier. In November 2012, he retired from Publix Super Markets Inc. after 40 years of working for the company. He had started at the age of 16, bagging groceries and eventually working his way up to store manager. After that he became director of public affairs, and that experience led to a promotion to vice president. Upon retirement, he told his local paper, The Ledger, “I feel I’ve had an unbelievable life at Publix—not a career, a life.”1
His story evokes nostalgia for a time when going into the family trade was a real option for many young adults; Hollis’s father and grandfather were both at one time leaders ...
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