Supermarket chain Winn-Dixie last week named Peter Lynch president-CEO, replacing Frank Lazaran.
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| Peter Lynch |
Lynch had been president-chief operating officer of Albertson’s, overseeing operations, merchandising and marketing for 2,500 stores under the Albertson’s, Jewel/Osco, ACME, Sav-on and Osco brands.
Troubled Winn-Dixie is 11 months into a turnaround plan to stem sales declines. The Jacksonville, FL-based chain reorganized its centralized procurement structure, targeted 600 stores for remodeling and planned to save $100 million a year, in part by improving its buying process and cutting staff costs. Still, sales were down 3.4% to $2.3 billion for the first quarter of fiscal 2005, ended Sept. 22.
“The Board concluded that making this change [in CEO] was a necessary step towards achieving our objectives, and we feel very fortunate to bring in a chief executive of Peter Lynch’s caliber to lead the company through this challenging period,” said board of directors Chairman H. Jay Skelton in a statement.
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