The Bon-Ton Stores, Inc. has announced that Frank Tworecke, President and Chief Operating Officer, has resigned effective May 7, 2004. Mr. Tworecke has been named Group President, Sportswear for Warnaco and will have responsibility for Warnaco's Calvin Klein® Jeans, Calvin Klein® Underwear and Chaps units.
Tim Grumbacher, Chairman of the Board and Chief Executive Officer, stated, “We appreciate the many outstanding contributions Frank made to the Bon-Ton during the past four and a half years. We wish him continued success in all his endeavors.”
Mr. Grumbacher continued, “Until a successor has been named, Bud Bergren, Vice Chairman and formerly President and Chief Executive Officer of The Elder-Beerman Stores Corp., will assume Frank's responsibilities.”
“In addition,” Mr. Grumbacher commented, “as previously announced last fall, I will be stepping down as Chief Executive Officer consistent with the Company's on-going succession planning process. I will continue as Chairman of the Board. The Company expects to announce the new Chief Executive Officer after the regularly scheduled May meeting of the board of directors.”
