Bon-Ton holds back on CEO announcement
May 26, 2004-- Home Textiles Today,
YORK, Pa. - Bon-Ton Stores said its board will postpone the naming of a new chief executive officer.
The company originally intended to name the new CEO following its regularly scheduled board meeting this week. The board decided to postpone the move due to the recent medical leave of Bud Bergren, vice chairman. Bergren, whose leave was unexpected, was "a leading candidate under consideration," according to Tim Grumbacher, current CEO and chairman.
"The Board feels it must delay the decision pending Bud's recovery," Grumbacher added. "In the meantime, I will continue in my active role as chairman and CEO, and our strong management team is committed to completing the Elder-Beerman integration and implementing the 2004 operating plan."
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