YORK, Pa.–Bud Bergren, president and CEO of Bon-Ton Stores, announced his plans to retire yesterday.
Bergren will remain in his position, which he has held since Aug. 2004, until a successor is named, after which he will join the company’s board of directors as chairman. Once Bergren becomes chairman, Tim Grumbacher will step down as executive chairman and remain a member of the board, the company said.
Bergren joined Bon-Ton in Nov. 2003 as part of the company’s acquisition of Elder-Beerman Stores Corp., where he served as president and CEO. He was appointed vice chairman of Bon-Ton in Nov. 2003.
In thanking Bergren for his accomplishments and service, Grumbacher said Bergren has been instrumental in growing the company over the past 11 years. “We were extremely fortunate at the time of the Elder-Beerman acquisition in 2003 that Bud made the decision to accept our offer to become a member of our senior management team,” Grumbacher said. “He has been an outstanding leader through good times and challenging times. I admire the enthusiasm and energy he brings to the Bon-Ton team every day in executing our vision for the future of this company. the board of directors and I are thrilled Bud has decided to continue to work with the company as chairman of our board of directors. I look forward to working with Bud in his new position.”