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    Commerce Bank Taps Wal-Mart Exec to Head Development

    CHERRY HILL, N.J. -- Commerce Bancorp, Inc., based here, has selected Jon Sandeen, Wal-Mart's v.p. of new store construction and design, to take on the newly created position of s.v.p./director of development.

    CHERRY HILL, N.J. -- Commerce Bancorp, Inc., based here, has selected Jon Sandeen, Wal-Mart's v.p. of new store construction and design, to take on the newly created position of s.v.p./director of development.

    "As Commerce rapidly grows our retail network, Jon's 16 years of experience in managing the design and construction of all Wal-Mart distribution centers, supercenters, and Sam's Clubs in North America will be an important element in the Commerce expansion plan," noted Commerce founder and chairman Vernon W. Hill in a statement. "His success in the power retailing environment is an ideal match with our unique retail model."

    In his new role Sandeen will oversee new store construction, design, and real estate. During 2005 the company plans to open 50 to 55 new locations in the metro New York, metro Philadelphia, and metro Washington, D.C. markets, and has 65 new locations in development for 2006 in Washington and eight states.

    At Wal-Mart Sandeen managed and supervised all new retail store design and construction. He additionally headed a team of 160 associates that completed 330 new store projects across the United States last year. Previously Sandeen was in charge of facilities maintenance and emergency support for 4,000 operating Wal-Mart Stores. He also held a variety of other facilities design and construction management positions during his tenure at Wal-Mart, including the responsibility for developing more than 70 regional/food DCs.

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