UPDATE: Mark Prestidge, EVP and COO of Bi-Lo Holdings, reportedly "resigned effective Dec. 31," according to Supermarket News.

Dive Brief:

• Bi-Lo Holdings president and CEO Randall Onstead will step down from his positions effective March 1.
• During Onstead's seven-year tenure, Bi-Lo Holdings, parent company of Winn-Dixie, saw a bankruptcy filing followed by growth, acquisitions, and an even a potential IPO, which was eventually pulled. 
• The company has already chosen Onstead's successor but will not announce the name until a later date.

Dive Insight:

Over the past seven months, Bi-Lo Holdings snagged news headlines with both positive and negative momentum, from acquiring three supermarket chains to pulling its IPO. The company also shuttered 23 of its stores in November, though Bi-Lo reported having 25 new and refurbished stores expected to open by the end of 2014. Onstead's departure may be a mark of more uncertainty ahead for Bi-Lo and Winn-Dixie, but the imminent announcement of the new president and CEO could shed light on the company's future.