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JACKSONVILLE, Fla. - Winn-Dixie Stores Inc. today announced that Bennett L. Nussbaum has been appointed s.v.p. and c.f.o. Nussbaum succeeds Richard P. McCook, who has resigned, effective immediately, after 20 years of service at the company.
Nussbaum, 56, most recently served as e.v.p. and c.f.o. of Burger King Corporation. At Burger King he oversaw all aspects of finance, information technology, franchise development and supply chain.
Prior to joining Burger King in 2001, Nussbaum served as s.v.p. and c.f.o. of Kinko's Inc. for four years, where he led the financial management of a consolidation that brought 125 entities under a single global enterprise.
Before joining Kinko's, Nussbaum had a successful 25-year career at PepsiCo, Inc., where he served in a broad range of senior financial and operations roles, both domestically and internationally.
"We are extremely pleased to welcome Bennett to the Winn-Dixie team," said Frank Lazaran, president and c.e.o. "He brings additional leadership as well as remarkable experience, and has demonstrated throughout his career the ability to effect positive change in financial processes and improved business results that help drive long-term growth and shareholder value. He is the ideal addition to the team as we move forward with the strategic initiatives we outlined in January. With Bennett's added experience and the groundwork we have laid thus far on these initiatives, we expect to restore Winn-Dixie's long-term strategic and financial health and generate improved shareholder value."
Lazaran continued, "I also want to thank Rick for the contributions that he has made to Winn-Dixie over his 20-year career at the company. Throughout his tenure, he demonstrated, day-in and day-out, a steadfast dedication to Winn-Dixie. On behalf of the entire Winn-Dixie team, I want to wish him and his family the very best."
McCook's departure comes after the company posted a $79.5 million loss for the second fiscal quarter. That loss prompted Winn-Dixie's stock to plummet to a 20-year low and management to suspend the 5-cent-per-share quarterly dividend. Several class action lawsuits followed, alleging that the company failed to accurately disclose its financial position.