From the Boardroom: Introducing Our Newest Board Member & More News
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Wednesday, November 13, 2024
By Spoma Jovanovic, Board President

We are delighted to introduce Debra Smith as the newest member of Deep Roots’ Board of Directors. Pictured in the center and surrounded by the other members of the Board, Debra has hit the ground running with her vast experience in financial matters and keen attention to detail. A Deep Roots owner since 2018, Debra attests to the value of healthy, organic foods for changing her life for the better. Read more about Debra Smith here.

Debra will be completing the term originally held by Eric Smith (no relation) who regrettably stepped down from the Board to attend to health and wellness matters. Eric’s service to Deep Roots most recently culminated with his involvement in the new General Manager (GM) search, a time-intensive commitment that required his insights and wisdom. We wish Eric, a professional Santa Claus, all the best and will miss his wit at our monthly meetings.

Speaking of monthly meetings, you may be wondering what is in store for Debra now that she’s become a Board Member as well as an owner. Here’s a glimpse of what the Board does. At our last Board Meeting, we reviewed monthly financials as we always do with General Manager Matt Davis and received a report from our Owner Engagement Committee of owner responses to questions about what makes Deep Roots Market special to you and the community. The data will inform a new, concise statement of what distinguishes Deep Roots Market today from other markets and co-ops (one of the Board’s three goals for this year).

What else, you ask? Recently, the Board’s Finance Committee researched, crunched the numbers, and with our General Manager, developed a multi-year plan to retire outstanding owner loans that supported Deep Roots’ operations in challenging times and move to the downtown location (another of the Board’s goals for the year). The Board approved the plan which will begin in 2024, asking our GM to distribute $80,000 in debt repayment by the end of the year, an ambitious step that clearly demonstrates strong commitment to this goal on the part of the Board and the new management team. As one aspect of the ambitious loan repayment plan, the Board will launch a year-end fundraising campaign, asking customers, owners and Deep Roots supporters to consider year-end contributions to help Deep Roots cover costs that extend beyond store sales and ownership shares. More on this soon!

Finally, our Board Development Committee is already preparing candidate packets for owners interested in running for a three-year Board position at our May 2025 Annual Meeting. We intentionally hold elections annually to re-elect or replace at least three Board Members and we hope you will consider running for one of the positions so you can work with an amazing, dedicated group of people to deepen Deep Roots’ place and impact in our community!