CARY, N.C. -- Four months after CEO Terry Marks submitted his resignation from The Pantry, the search for his replacement "is progressing in an organized manner," reported interim CEO Edwin Holman during the convenience store retailer's first quarterly earnings report since Marks' departure.
(See related coverage in this issue of CSP Daily News.)
"When Terry submitted his resignation, the board immediately appointed a search committee to work with [executive search firm] SpencerStuart to identify and hire a new CEO," Holman said, noting he is not on the search committee. "While the board has a sense of urgency to identify and employ a permanent CEO, the ultimate goal of the board is to conduct a thorough search and employ a seasoned c-suite executive with extensive experience and proven results in the retail industry."
In the meantime, Holman said he has thrown himself wholeheartedly into his interim role, where he is "completely engaged in the business" and "working to employ opportunities."
Holman has been on the board of directors for The Pantry for six years, and enjoyed a career in the retail industry for more than 40 years in several different retail formats, he said, including eight years in the grocery industry early in his career.
He also served as interim CEO at The Pantry after Peter Sodini retired in 2009.
Marks announced his departure from The Pantry in August to take the top spot at themed restaurant chain Hooters.
(See Related Content below for previous CSP Daily News coverage of Marks' departure and Holman's appointment.)
Headquartered in Cary, N.C., The Pantry is the leading independently operated convenience store chain in the southeastern United States and one of the largest independently operated c-store chains in the country. As of December 9, 2011, the company operated 1,627 stores in 13 states under select banners, including Kangaroo Express, its primary operating banner.
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