Bon-Ton Stores has announced that its president and CEO, Brendan L. Hoffman, will step down when his current employment contract ends on Feb. 7, 2015.
He will also resign as a company director at that time.
Hoffman, the former CEO and president of Lord & Taylor, has served in the role since 2012. In a statement, he said that he decided to step down for “strictly personal reasons.”
The company’s board will now lead the search for a successor.
Bon-Ton currently operates 270 department stores.