PG Procter and Gamble Co

Juice-shop owner Jamba Inc. said Chief Executive James White will retire, effective after the board completes its search for his replacement.

Mr. White, who was 54 years old as of an April regulatory filing, has led the California-based beverage company since December 2008. Before taking the helm at Jamba Juice, Mr. White held senior executive roles at Safeway Inc. and Gillette Co.

After seven years as CEO, Mr. White said Thursday, "I feel it is right for me to move on and for the board to transfer leadership to a new generation."

About six months ago, Jamba said it would sell about 40% of its company-owned stores to a franchisee group for $36 million in a move to cut costs and lift profit margins. The sale came about two months after the company agreed to appoint representatives of two activist shareholders, Engaged Capital LLC and JCP Investment Management LLC, to its board of directors.

Shares of Jamba, down about 5% this year, were little changed in morning trading.

Write to Lisa Beilfuss at lisa.beilfuss@wsj.com

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(END) Dow Jones Newswires

October 01, 2015 10:45 ET (14:45 GMT)

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