99 Cents Only Stores has announced that Andrew Giancamilli, the chairman of the company’s board of directors, is assuming the role of interim president and CEO, replacing Stéphane Gonthier, who has resigned.
A board member since 2012, Giancamilli was appointed as chairman in April to help guide the company through its next phase of growth based on his extensive experience in leading several retail businesses, the company noted.
Giancamilli brings more than 30 years of retail experience, serving for more than eight years as president and CEO of Katz Group Canada Ltd., operators of over 1,800 drug stores in Canada. Prior to that, Giancamilli was with Canadian Tire Corporation and was also president and COO at Kmart Corporation.
“In my role on the board over the past three years and more recently as chairman, I have gained a deep understanding of the drivers of the 99 Cents Only business and its distinctive and passionate corporate culture. I look forward to working with the members of the senior management team and the board to ensure a smooth transition,” said Giancamilli.