Marshall to Attempt A&P Turnaround
There is no doubt A&P’s parent company, The Great Atlantic & Pacific Tea.
Co., is struggling mightily. The grocery store operator comes off two quarters
where comp store sales were down nearly six and four percent respectively.
The company fired its CEO Eric Claus in October and has announced it has found
a replacement in Ron Marshall, who recently left Borders after just about a
year on a turnaround job there.
The self-styled turnaround artist, Mr. Marshall,
has previous experience as CEO of Nash Finch and before that as chief financial
officer at Pathmark, now a division of A&P.
At Pathmark, Mr. Marshall was credited
with getting the chain’s financial house in order. Later at Nash Finch, he
took early steps to reduce costs and post a profit. He left the company after
several years at a time when the wholesaler and retailer was losing ground
to grocery competitors.
“I am very much looking forward to working with Christian (Haub, executive
chairman of the company), the Board of Directors and the management team to
tremendous strategic potential. I am confident that, together, we will bring
A&P back to its leadership position,” said Mr. Marshall in a company press
Mr. Haub, said in the same release, he was “very excited about the
strengths, competencies and experiences that Ron brings to A&P. He will be
the key leader in our turnaround… 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.”
Questions: What challenges must The Great Atlantic & Pacific Tea Company
overcome to get the entire company turned around? What are your thoughts on
Ron Marshall’s ability to enact the types of changes necessary to achieve a
- A&P supermarket taps Marshall to spearhead turnaround – MarketWatch
- 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.