A&P’s CEO Merry-Go-Round Continues
Back in January when Christian Haub, executive chairman
of Great Atlantic & Pacific
Tea Company, announced the company had hired Ron Marshall as its new CEO, he
said, "With Ron as our next chief executive officer I am confident that
we will realize the tremendous strategic value of the company and capitalize
on our leadership position in the Northeast."
Mr. Marshall replaced Eric
Claus, who left the company last October.
On Friday, the company made another
change at the top. Mr. Marshall is out and in is Sam Martin, most recently
COO of OfficeMax and, prior to that, COO of Wild Oats.
In announcing the change,
Mr. Haub said, "The board and the company’s
major shareholders, Tengelmann and Yucaipa, have been instrumental in developing
what I believe is the right turnaround strategy for A&P. As we moved to
the implementation and execution stage of this comprehensive operational and
revenue-driven turnaround, the board determined that the company needed a leader
at the helm with the skill set Sam Martin possesses… He has an ideal mix
of food industry management experience encompassing operations, merchandising
and supply chain."
Discussion Questions: Is Sam Martin the right person to lead A&P to a "revenue-driven
turnaround?" Does Mr. Martin’s previous association with Yucaipa Cos. (the
largest investor in Wild Oats) suggest a shift in power at the board level at
- The Board of Directors of Great Atlantic & Pacific Tea Company, Inc. Appoints
Sam Martin President and CEO – The Great Atlantic & Pacific Tea Company,
- The Great Atlantic & Pacific Tea Company, Inc. Announces Appointment of
Ron Marshall as President & Chief Executive Officer effective February 8,
2010 – The Great Atlantic & Pacific Tea Company, Inc.
- A&P Names New CEO; Loss Widens As Woes Persist – The Wall Street
names new CEO as financial woes persist – The Star-Ledger