The Bon-Ton Stores, Inc. today announced the appointment of Brendan Hoffman, 43, to the position of president and chief executive officer of the company, effective Feb. 7.
Hoffman also will be elected to the company's board of directors.
Hoffman will succeed president and CEO Bud Bergren, who is a current member of the board and will transition to the role of the chairman of the board. Upon Mr. Bergren's transition to chairman, Tim Grumbacher, currently serving as executive chairman, will remain a director of the company.
Hoffman has been the CEO and president of Lord & Taylor L.L.C. since October 2008. He previously served six years as president and CEO of Neiman Marcus Direct, a subsidiary of The Neiman Marcus Group Inc.
Grumbacher stated, "We are excited to have an executive with Brendan's skill and background assuming the role of president and chief executive officer of the company. He comes with a wealth of knowledge and experience in the retail industry, which we believe will be very beneficial in driving profitable growth from the strategic initiatives we began piloting in the fall of fiscal 2011. We look forward to Brendan joining our team and working with him to drive the future success of our company. The board of directors and I would personally like to thank Bud and recognize his many accomplishments and dedicated service over the past seven years. We are very fortunate to have the continued counsel and support of Bud as he transitions into his new role as chairman of the board."
Hoffman said, "I have great confidence in Bon-Ton's future and look forward to working closely with management and the board in executing a successful strategic plan and increasing shareholder value. I am excited to lead the Bon-Ton team as it embarks on a new phase of growth."
Bon-Ton Stores Inc. has corporate headquarters in Milwaukee and York, Pa.
Bon-Ton Stores names new CEO
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