Bon-Ton Names Hoffman President and CEO
YORK, Pa-The Bon-Ton Stores has appointed former Lord & Taylor chief Brendan L. Hoffman president and CEO, effective Feb.7.
Hoffman, who will also be elected to the board of directors, succeeds president and CEO Bud Bergren, who is a current member of the board and will become chairman. Upon Bergren's transition to chairman, Tim Grumbacher, currently serving as executive chairman, will remain a director.
It was announced yesterday that Hoffman was leaving Lord & Taylor. He had been the CEO and president since October 2008. Prior to this, he served six years as president and CEO of Neiman Marcus Direct, a subsidiary of The Neiman Marcus Group Inc., where he oversaw the growth of neimanmarcus.com and the launch and growth of bergdorfgoodman.com. Hoffman also served as vice president of the Last Call clearance division at Neiman Marcus and as a divisional merchandise manager of Bergdorf Goodman.
In a statement, Grumbacher said Hoffman has a wealth of knowledge and experience in the retail industry, "which we believe will be very beneficial in driving profitable growth from the strategic initiatives we began piloting in the fall of fiscal 2011."
"I have great confidence in Bon-Ton's future and look forward to working closely with management and the board in executing a successful strategic plan and increasing shareholder value," Hoffman said. "I am excited to lead the Bon-Ton team as it embarks on a new phase of growth."