Ace Hardware president and CEO Ray Griffith announced his plans to retire from the hardware cooperative on March 31, 2013, and the company’s board of directors has named Ace’s chief operating officer John Venhuizen his successor.

Effective Sept. 1, 2012, Venhuizen assumed the role of president, while retaining his existing chief operating officer duties of Ace Hardware Corp. Griffith will maintain his role as CEO until his retirement.