A&P has named Paul Hertz as president and CEO, effective immediately. Hertz had been A&P's COO since 2010, and assumes the role vacated by Sam Martin in January. Greg Mays, who had been leading the company since Martin's departure, will continue to serve as chairman of the board of directors.
The appointment puts an end to a series of shakeups at A&P beginning in 2010, when former CEO Ron Marshall abruptly departed just six months after joining the company. Martin replaced Marshall in the summer of 2010 as CEO and led the company as it filed for Chapter 11 bankruptcy protection in December of that year, through its emergence in March 2012.
Martin spearheaded the remodeling of stores and increased promotion of A&P's private label brands. But A&P stores still struggled in the highly competitive Northeast grocery market, where most of the company's stores are located. Martin departed without explanation earlier this year.
Hertz is a 27-year veteran of the retail industry, beginning his retailing career in 1987, as a manager with Fred Meyer, a division of Kroger. Prior to joining A&P in 2010, Hertz was exec-VP of retail stores for OfficeMax (NYSE: OMX), which he had served since 2007.
In addition to Hertz's promotion, A&P said that Christopher McGarry, formerly exec-VP and general counsel, has been appointed chief administrative officer; and that Nirup Krishnamurthy, formerly CIO, will assume the additional role of chief strategy officer. McGarry and Krishnamurthy, whose appointments are also effective immediately, will report to Hertz.
A&P operates more than 300 stores in six states, including A&P, Best Cellars, Food Basics, The Food Emporium, Pathmark, Superfresh and Waldbaum's.
-See this A&P press release
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