Fleming Chairman and CEO Hansen Resigns
Tuesday March 4, 12:25 am ET
DALLAS (Reuters) - Top U.S. groceries distributor Fleming Cos. Inc. (NYSE: FLM), which has been hurt by the Kmart bankruptcy and is cutting 15 percent of staff, said on Monday that its chairman and chief executive has resigned effective immediately.
The company said Mark Hansen, who has served as chairman and CEO since 1998, will be succeeded by Peter Willmott as interim CEO and president. Archie Dykes was named as non-executive chairman of the board.
The board also named Robert Allen to the new position of acting chief operating officer.
Willmott and Allen are directing day-to-day operations of the company while the board conducts an executive search, Fleming said. The board has retained an executive search firm to conduct the process.
In February, Fleming said federal securities regulators have stepped up their probe of the company.
It also said it would cut 1,800 jobs to reduce debt and costs in a business that has been hurt by intense competition and the bankruptcy of Kmart Corp. (Other OTC: KMRTQ.PK), one of its chief customers.