The Bon-Ton Stores Inc. on Tuesday said it delayed naming a new chief executive officer, citing the "unexpected medical leave" taken by one of the leading candidates, a board member.
The York, Pennsylvania-based company said it planned to name a new CEO after its two-day board of directors meeting, which ended on Tuesday. It delayed action "due to the recent and unexpected medical leave of Vice Chairman Bud Bergren, a leading candidate under consideration by the board," said Tim Grumbacher, the company's current chairman and CEO.
Grumbacher, who had in December announced plans to step down as CEO by mid-2004, said he will retain his chairman and CEO titles for now. Bon-Ton operates 142 department stores in 16 states under the Bon-Ton and Elder-Beerman names.
