BLUESTONE NAMED CHIEF EXECUTIVE OFFICER AT P.A. BERGNER & CO.
MILWAUKEE, Aug. 3 /PRNewswire/ -- P.A. Bergner & Co. announced today that Stanton J. Bluestone has been named chief executive officer. Bluestone, who is also president of P.A. Bergner & Co., has been acting CEO for more than two years while the company has operated under the protection of Chapter 11. The company also announced that Michael R. MacDonald has been promoted to executive vice president and chief administrative officer, the number two position in the company. Reporting to Bluestone, MacDonald will be responsible for all finance, treasury, real estate, legal, loss prevention, management information and distribution services. Other members of the senior executive committee who continue to report to Bluestone are John R. Freudenthal, executive vice president of merchandising; Catherine A. Shaw, executive vice president of store operations; and Edward P. Carroll Jr., executive vice president of marketing. The human resource function also reports to Bluestone. Mark Dickstein, president of Dickstein Partners, speaking for the Bank Debt Group, which will own 100 percent of the equity of P.A. Bergner & Co. at the time that the company's Amended Reorganization Plan is consummated, commented: "Both the Bank Debt Group and the Unsecured Creditors Committee firmly support this decision. Stan Bluestone, Mike MacDonald and their management team have stabilized the business while achieving all of the objectives they set in order to emerge from Chapter 11 successfully. "With the continuity of this leadership and a well-conceived and focused business plan, we are confident that the company is positioned to become one of the premier department store retailers in the United States." These changes are effective immediately. As was previously disclosed, Bluestone and MacDonald will also continue as members of the company's board of directors after the consummation of the Plan of Reorganization. Bluestone joined P.A. Bergner & Co. in January 1985 as president and chief operating officer. His 35-year career in retailing began at Federated Department Stores' Shillito's division and he held senior merchandising positions at Lane Bryant, Paul Harris and Howland- Steinbach Department Stores before joining P.A. Bergner & Co. MacDonald has been the chief financial officer at P.A. Bergner & Co. since he joined the company in September 1990. Before that, he served at Dayton Hudson Department Stores and Marshall Field's in the capacity of chief financial officer. P.A. Bergner & Co. also announced today that it had realigned responsibilities among certain key executives following the appointment of Bluestone as chief executive officer and MacDonald as chief administrative officer. Robert Grant, currently vice president of distribution, has been named vice president of operations and will have responsibility for non- merchandise purchasing and store restaurants. He will continue to supervise the company's distribution centers in Rockford, Ill., and Sturtevant, Wis. Darren Jackson, currently vice president and treasurer of P.A. Bergner & Co., will now have credit, taxes, planning and the new function of investor relations reporting to him. John Doyle, vice president and controller, will be responsible for accounting, accounts payable, sales audit and payroll. Grant, Jackson and Doyle will report to MacDonald. Marjorie Mauer, vice president of merchandising support, now will also be responsible for coordinating all store lease operations. Mauer continues to report to John Freudenthal. P.A. Bergner & Co., which operates under the Carson Pirie Scott, Bergner's and Boston Store names in the Upper Midwest, is the 10th largest department store retailer in the United States, with sales in excess of $1.1 billion. -0- 8/3/93 /CONTACT: Edward P. Carroll Jr., executive vice president, sales promotion & marketing for P.A. Bergner & Co., 414-347-5340, or Tina Daniell of Laughlin/Constable, 414-272-2400, for P.A. Bergner & Co./
CO: P.A. Bergner & Co. ST: Wisconsin IN: REA SU: PER
KL -- CL008 -- 9079 08/03/93 17:02 EDT