New Chairman at The Pantry

Board appoints Holman to succeed retiring Sodini, work with new president Marks

CARY, N.C. -- The Pantry Inc. has announced that its board of directors has appointed Edwin J. Holman, a current director, as chairman. Holman will succeed current president and CEO Peter Sodini, who announced his retirement from the company and the board, effective September 25, 2009.

Holman (pictured) has served as a director of the company since October 2005. From December 2004 until his recent retirement, he served as chairman and CEO of Macy's Central, a division of Macy's Inc., which operates 217 department stores in the Midwest and southern United States.

Previously, [image-nocss] he was chairman and CEO of Galyans Trading Co. Inc. from September 2003 to October 2004. Earlier in his career, Holman held senior executive positions with the Bloomingdale's and Rich's/Lazarus/Goldsmiths divisions of Federated Department Stores Inc., Petrie Retail Inc., a specialty apparel retailer, Woodward & Lothrop, The Carter Hawley Hale Stores and The Neiman Marcus Group.

The Pantry announced in late August that Terrance M. Marks will become president and CEO of the company effective September 25. Marks previously served as executive vice president of Coca-Cola Enterprises Inc. (CCE) and president of Coca-Cola Enterprises Inc. North American Group. He will succeed Peter J. Sodini, who is retiring from the company and its board of directors.

Marks, 49, has more than 21 years of experience serving the convenience, grocery, mass merchant and quick-serve restaurant (QSR) industries. As president of Coca-Cola Enterprises North American Group from 2005 to 2008, he directed all sales, marketing, finance, operations, manufacturing, distribution, supply chain and human resources for a $15 billion enterprise with 55,000 employees in 400 facilities. From 1987 to 2004, Marks held various positions in sales, operations, finance and general management during his long career at CCE. (Click here for previous CSP Daily News coverage.)

Frank Paci, executive vice president of business operations and CFO for The Pantry, told CSP Daily News that the search committee was looking for someone who could "take the business to the next level. [Marks] had the right set of skills in terms of operating strengths and strategic vision," Paci said, "someone who was ready to build the Kangaroo Express brand and someone who had the skill level to manage all facets of a large organization." (Click here to read more.)

Holman commented, "On behalf of the board, I want to thank Pete for his outstanding leadership and efforts over the last 12 years. Pete and his team have achieved many milestones that will be his legacy and will benefit The Pantry in the years to come."

He added, "As a board member for the past four years, I look forward to my new leadership role and working with Terry and the rest of the board in positioning The Pantry for continued growth and success. The board has great confidence in Terry and the management team's ability to build on the company's strengths and take the business to new levels."

Headquartered in Cary, N.C., The Pantry is the leading independently operated c-store chain in the southeastern United States and one of the largest independently operated c-store chains in the country. As of Sept. 17, 2009, the company operated 1,677 stores in 11 states under select banners, including Kangaroo Express, its primary operating banner.