Paul Hertz, the COO at US grocer A&P, has been named the retailer’s chief executive.
Hertz, who joined A&P in 2010 from office supplies business OfficeMax, replaces Sam Martin, who left the business in January. A&P declined to comment at the time on why Martin had departed.
Go deeper with GlobalData
Greg Mays, who will continue to serve as A&P’s chairman, said: “Paul and his team made significant progress in 2013 in improving both the company’s operating and financial results. We believe that 2014 also holds great promise for further accomplishments; we expect to capitalize and improve upon last year’s performance, which will result in a stronger company and greater value for the company’s stakeholders.”
In 2010, A&P filed for Chapter 11 bankruptcy protection and then set about closing stores and putting others up for sale.
A&P emerged from Chapter 11 in March 2012 following an injection of capital from Ron Burkle’s investment vehicle Yucaipa Cos and financing from JPMorgan Chase & Co. and Credit Suisse.
Christopher McGarry, formerly executive vice president and general counsel, has been appointed chief administrative officer. Nirup Krishnamurthy, A&P’s chief information officer, will assume the additional role of chief strategy officer.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
