Regional grocery chain March Supermarkets has announced that it has appointed Douglas W Dougherty as senior vice president, chief financial officer and treasurer following the resignation of John Elbin from these positions on 6 December 2005.
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Dougherty served as the company’s chief financial officer for more than ten years until he retired in May 2005, when he was succeeded by Elbin. The company stated it believed that Elbin did not resign as a result of any inaccuracy in the company’s financial statements, but rather because he disagreed with other members of senior management on actions to improve the company’s results of operations and financial condition.
The company said Elbin’s departure would not change its previously announced plans to pursue strategic alternatives.
