Bon-Ton names Hoffman new CEO
The Bon-Ton Stores Inc. has appointed Brendan L. Hoffman its president and CEO effective Feb. 7, according to a news release.
Hoffman, 43, has served as president and CEO of Lord & Taylor and president and CEO of Neiman Marcus Direct, a subsidiary of The Neiman Marcus Group Inc., according to Bon-Ton.
Bon-Ton President and CEO Bud Bergren, last year announced he planned to retire when the company hired a new chief executive, after which he would become chairman of the board.
At that time, Tim Grumbacher would step down as its executive chairman but stay on the board of directors and continue focusing on "the strategic long-term direction of the Company," according to a Bon-Ton news release on the succession plan.
Bergren had joined the company through its acquisition of The Elder Beerman Stores Corp., where he had served as its chief executive, the company stated.
The Bon-Ton operates 276 department stores, including 11 furniture galleries, under the Bon-Ton and other names, the release stated. Shares of The Bon-Ton Stores are traded on the Nasdaq under the ticker symbol BONT.