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The Great Atlantic & Pacific Tea Co. Inc. (A&P) has elected Greg Rayburn to its board of directors. Bringing to the position over 28 years of experience leading companies and maximizing enterprise value through strategic and competitive challenges in a wide range of industries, including retail, Rayburn succeeds Dr. Jens-Jürgen Böckel, who has resigned after a seven-year tenure.
Rayburn’s “experience in leading companies through critical transitions will be invaluable to the board,” noted the financially struggling grocer’s chairman, Christian Haub, who added that the body would “continue to execute on A&P’s comprehensive turnaround under [CEO] Sam Martin’s leadership.”
Most recently, Rayburn was CEO of the New York City Off Track Betting Corp., where, at the request of the Gov. David Paterson, he developed a reorganization plan and led negotiations with state racetracks and unions. He has also been CEO of Magna Entertainment Corp., Syntax-Brillian Corp., International Outsourcing Services, Muzak Holdings LLC and Sunterra Corp. Earlier in his career, Rayburn was chief restructuring officer of WorldCom, at that time the largest U.S. bankruptcy filing to date.
Rayburn is a member of the American Institute of Certified Public Accountants and serves as an expert witness in federal and state courts on such issues as business viability, valuation, strategic plan assessment, fraud, damages and bankruptcy reorganizations.
Montvale, N.J.-based A&P operates 395 stores in eight states and the District of Columbia under the following banners: A&P, Waldbaum’s, Pathmark, Best Cellars, The Food Emporium, Super Fresh and Food Basics.