US retailer The Pantry has named former Coca-Cola Enterprises executive Terry Marks as its new president and CEO.
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Marks will take the helm from Peter Sodini on 25 September. Sodini is retiring from the company and its board.
The Pantry lead director Thomas Murnane said Marks, formerly executive vice president of Coca-Cola Enterprises and president of its North American group, was a “dynamic leader”.
“His broad industry knowledge, coupled with his extensive background as a professional manager, make him ideally suited to lead the company as it continues to grow and evolve,” Murnane said.
Marks left Coca-Cola Enterprises last July to pursue outside interests. He is set to take charge of a company that booked falling quarterly sales and earnings earlier this month.
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By GlobalDataThe Pantry, which runs over 1,600 stores in 11 US states, booked net income of US$43,000 for the three months to 25 June – compared with $10.7m a year earlier.
EBITDA also fell, reaching $48m against $66.1m a year ago. Turnover, meanwhile, slumped by more than a third, hitting US$1.63bn.
