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SYRACUSE, N.Y. -- The Penn Traffic Co. here said this week that Tod A. Nestor is has been named to the position of s.v.p. and c.f.o., effective immediately.
"Tod Nestor is an accomplished financial executive who has deep experience in all areas of finance, and has demonstrated a keen ability to lead, develop and build top tier teams," noted Penn Traffic president and c.e.o. Bob Panasuk in a statement. "Tod will add a wealth of experience and skills to our senior management team as a result of his experience in working on and with Wall Street, demonstrating the ability to develop and implement innovative approaches to financial analysis and strategy, and his high sense of urgency and accountability in delivering operational results that will ultimately drive Penn Traffic's financial performance."
Reporting directly to Panasuk, Nestor will manage all responsibilities in Penn Traffic's finance function.
Nestor previously served as v.p. strategic planning and treasurer, as well as v.p. finance and controller, at American Eagle Outfitters, Inc. A licensed CPA, CFA, CMA, and CFM, he has over 20 years of financial, operational, and general management experience, including a variety of industry perspectives encompassing retail and consumer products.
Before his stint at American Eagle Outfitters, Nestor held several high-level positions in finance, treasury, and operations at H.J. Heinz; Bacardi, Ltd.; WR Grace; Stern Stewart & Co.; and PepsiCo, Inc. (including Pizza Hut subsidiary). Among his particular areas of expertise are financial reporting, performance management, planning and analysis; restructurings; strategic planning; mergers and acquisitions; investor relations; treasury and tax planning; and operations improvement.
Nestor's appointment is the latest in a series of executive shake-ups at Penn Traffic, which is in the midst of an ambitious restructuring after recently emerging from two bankruptcies in five years. He replaces Randy P. Martin, who resigned from the company to pursue other interests in January, and interim c.f.o. Ben Jones.