Penn Traffic, C.F.O. Part Ways
SYRACUSE, N.Y. -- In the latest round of executive changes to occur at Penn Traffic Co. here, s.v.p.-finance Randy P. Martin resigned from company Friday "to pursue other interests," according to the company.
Ben Jones, a managing director at Conway, Del Genio, Gries & Co., which has been advising the retailer on financial matters since October, is acting as interim c.f.o. while Penn Traffic searches for a permanent replacement for Martin.
The company, which has struggled to regain its footing since emerging from bankruptcy protection in April 2005, saw the October 2006 departure of president and c.e.o. Robert Chapman, followed a month later by the resignation of five v.p.'s. Current president and c.e.o. Robert Panasuk and a new management team are currently leading the company.
Penn Traffic operates 108 supermarkets in Pennsylvania, upstate New York, Vermont and New Hampshire under the BiLo, P&C, and Quality banners. The grocer also operates a wholesale food distribution business serving 43 Big M stores, 29 associate stores, and 48 independent operators, as well as Penny Curtiss, a Syracuse-based commercial bakery.
Ben Jones, a managing director at Conway, Del Genio, Gries & Co., which has been advising the retailer on financial matters since October, is acting as interim c.f.o. while Penn Traffic searches for a permanent replacement for Martin.
The company, which has struggled to regain its footing since emerging from bankruptcy protection in April 2005, saw the October 2006 departure of president and c.e.o. Robert Chapman, followed a month later by the resignation of five v.p.'s. Current president and c.e.o. Robert Panasuk and a new management team are currently leading the company.
Penn Traffic operates 108 supermarkets in Pennsylvania, upstate New York, Vermont and New Hampshire under the BiLo, P&C, and Quality banners. The grocer also operates a wholesale food distribution business serving 43 Big M stores, 29 associate stores, and 48 independent operators, as well as Penny Curtiss, a Syracuse-based commercial bakery.