Bon-Ton CEO takes on chairman role
YORK, Pa. — The Bon-Ton Stores announced Tuesday that its board of directors has elected president and CEO Bud Bergren to the additional role of chairman of the board. The board has also accepted Tim Grumbacher’s resignation as executive chairman of the board. Grumbacher remains a director of the company and was named strategic initiatives officer. Additionally, Brendan Hoffman, recently appointed as president and CEO of the company effective Feb. 7, was elected a director of the company. The actions of the board were taken on Jan. 26 with an effective date of Feb. 7. The transition of Bergren to chairman of the board is in accordance with the board of directors’ succession plan.
Bergren was president and CEO of Bon-Ton since August 2004. He joined the company in November 2003 in conjunction with the company’s acquisition of The Elder-Beerman Stores Corp., where he served as president and CEO from February 2002 through August 2004. He was appointed vice chairman of Bon-Ton in November 2003.