Dale Bachman, the 4th generation CEO of the venerable floral and garden center chain, announced his retirement Monday.

Bachman, 67, is the great grandson of the founders Henry and Hattie Bachman. He started at the company in 1972 after graduating from the U of M. He became president in 1992 and took on the roles of CEO and Chairman of the Board in 2008.He will step away from day to day operations later on Oct. 20 but keep his title as chairman of the board. "It is my great pleasure, honor, and joy to have worked with so many wonderful and talented people at Bachman's over the past 46 years and to help the company continue to grow in its service to our community," he said in a statement.

Susan Bachman West, president of Bachman's since 2016, will succeed Dale Bachman, her cousin, but will maintain her title as president of the family-owned company. Bachman's is choosing not to use the title of CEO, a choice it has made several times in its history, according to the company's statement.

Bachman West, 43, will be the first woman to lead the company in its history. She's worked there since she was a teenager, getting the president's job in 2016. "I know that under Susan's capable leadership, with the support of the other members of the 5th generation involved in the business, the leadership team, and everyone at Bachman's, the company could not possibly be in better hands," said Dale Bachman in a statement.

Bachman's was started in 1885. It operates six full-service floral, home and garden centers, a floral and gift shop in downtown Minneapolis and 27 floral departments in Lunds & Byerly's stores. It also operates a landscaping division, a weddings/special events department, and a large wholesale operation in Lakeville.