The department store retailer announced that Kathryn Bufano, president and CEO, will leave the company when her contract expires on August 25. She will be succeeded by William Tracy, currently the retailer’s COO. He will be Bon-Ton’s fourth chief executive since 2012.
Tracy has served as COO of Bon-Ton since July 2015. He previously held various management positions at Hudson’s Bay Company, including executive VP of supply chain, logistics & omnichannel fulfillment, and global sourcing. Tracy also served as COO of Fortunoff Brands LLC and Nine West Corp.
Bon-Ton Stores operates 261 stores in the Northeast, Midwest and upper Great Plains regions under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers banners. The company, which has been unprofitable for the past six years, posted a $63.4 million loss in 2016, up from a loss of $57 million the previous year.
The executive shakeup comes days after longtime Bon-Ton chairman Tim Grumbacher announced his…