The Bon-Ton Stores today announced that Kathryn Bufano has been appointed to the position of president and CEO of the company, effective August 25. She will also be elected to the board of directors, the company said.
Bufano will replace current president and CEO Brendan Hoffman. The company announced that Hoffman elected not to renew his three-year employment agreement and will resign as president and CEO and as a member of the board effective with the election of Bufano. Hoffman will be working through a transition period with Bufano, the company said.
Bufano most recently served as president and CMO of Belk Inc. since August 2010 and previously as its president, merchandising and marketing from January 2008 to August 2010. Prior to Belk, Bufano was the CEO of Vanity Shops, Inc. and has served as CMO for Dress Bard, Inc, and in various positions in the Macy’s East and Lord & Taylor divisions of Federated Department Stores, the company said.
“We are excited to have an executive with Kathryn’s talents and background assuming the role of president and chief executive officer of the company. Her years of experience in the department store industry will allow her to refine and drive the strategic growth initiatives we have put in place over the last several years. We look forward to Kathryn joining our team and leading the future success of our company,” Tim Grumbacher, chairman of the board and chief strategic officer said. “The Board of Directors and I would personally like to thank Brendan for his leadership, initiative, accomplishments and dedicated service. We wish him well in his future endeavors.”
Bufano commented, “I am excited to have the opportunity to lead the Bon-Ton team. I have great confidence in the company’s future and I look forward to working with management and the Board in executing a successful strategic plan and increasing shareholder value.”