Bon-Ton amends CEO's contract

20 Jul '07

2 min read

The Bon-Ton Stores Inc announced it has amended the employment contract of its president and chief executive officer, Byron (Bud) Bergren.

Mr. Bergren will continue to serve as president and chief executive officer through January 31, 2009 and will serve in an important role to be determined by the Board of Directors from February 1, 2009 through February 5, 2010.

In addition, Mr. Bergren will continue as a member of the Board of Directors for the period through February 5, 2010.

Tim Grumbacher, Executive Chairman of the Board of Directors, commented, “Our board is very pleased with Bud's vision, leadership and execution since he joined Bon-Ton four years ago. We have great confidence in our strategic initiatives and this new amendment is an important step toward meeting the Company's objectives."

"Bud has been instrumental in the successful integration of Bon-Ton and Carson's, which has positioned our Company as one of the largest regional department store operators in the country. I look forward to Bud's ongoing contributions as we work towards realizing the Company's plan for future growth and profitability.”

Mr. Bergren commented, “We are well on our way to realizing the potential of the Bon-Ton and Carson's business combination."

"I welcome the opportunity to continue to lead the excellent team we have in place and to enhance value for Bon-Ton shareholders as well as offer exciting new prospects for our customersand employees. I want to thank the Board of Directors and Tim for their continued support and confidence.”

The Bon-Ton Stores Inc

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