US: The Pantry names ex-Harris Teeter boss Dickson chairman
The Pantry Inc operates under select banners including Kangaroo Express
US convenience store chain The Pantry has named ex-Harris Teeter chairman and CEO Thomas Dickson as chairman of its board of directors.
Dickson replaces Edwin Holman who held the position since 2009. Dickson was at Harris Teeter from 1997 until the sale of the regional US retailer to Kroger at the start of the year.
The appointment comes weeks after The Pantry shareholders voted to give Dickson a seat on the board amid disagreement between the retailer and a group of investors over company strategy.
The Pantry was the subject of criticism from a group of shareholders, led by funds JCP Investment Management and Lone Start Value Management.
The group, which called itself Concerned Pantry Shareholders, or CPS, slammed the retailer's financial record in the last decade. Ahead of The Pantry's annual meeting on 13 March, CPS called on shareholders to elect three "highly qualified and independent" nominees to the company's board, replacing directors including chairman Holman.
The Pantry included Dickson in a slate of candidates it wanted to shareholders to vote for seats on its board as its AGM last month. The retailer urged shareholders to vote for its slate of nine nominees, including the re-election of Holman.
However, at the meeting, Holman was not elected - and shareholders voted to elect Dickson, among others, to The Pantry board.
The Pantry operates 1,537 stores in thirteen states under select banners including Kangaroo Express.
CARY, N.C.--(BUSINESS WIRE)-- The Pantry, Inc. (NASDAQ: PTRY), a leading independently operated convenience store chain in the southeastern U.S., today announced the Board of Directors of the Company has elected Thomas W. "Tad" Dickson, former Chairman and Chief Executive Officer ofHarris Teeter Supermarkets, Inc., to serve as Chairman of the Board of Directors effective April 2, 2014. He replaces Edwin J. Holman who was Chairman of the Board since September 2009.
Mr. Dickson most recently served as Chairman and CEO of Harris Teeter, a leading regional supermarket chain in the southeastern and mid-AtlanticUnited States, from February 1997 up to the company's sale to The Kroger Co. in January 2014, and as Chairman of its Board of Directors from March 2006 to January 2014. Prior to serving as Chairman and CEO, Mr. Dickson served in various executive posts at Harris Teeter (formerly Ruddick Corporation) and its former subsidiary, the textile company American & Efird, Inc., and as a director of Harris Teeter from February 1997 to January 2014. Mr. Dickson brings to the role of Chairman nearly two decades of operational and management experience in the supermarket industry, including more than 15 years as a public company director, and possesses broad supermarket and real estate knowledge, particularly in The Pantry'score geographies.
About The Pantry
Headquartered in Cary, North Carolina, The Pantry, Inc. is a leading independently operated convenience store chain in the southeastern United States and one of the largest independently operated convenience store chains in the country. As of April 3, 2014, the Company operated 1,537 stores in thirteen states under select banners, including Kangaroo Express®, its primary operating banner. The Pantry's stores offer a broad selection of merchandise, as well as fuel and other ancillary services designed to appeal to the convenience needs of its customers.
Original source: The Pantry Inc
The trends observed during 2013 in grocery retailers, continued gaining ground in 2014. Companies continued to focus their expansion throughout the country through discount and convenience formats, wi...
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