Bud Bergren, 65, has stated his intention to retire as president and chief executive officer of Bon-Ton Stores.
Bergren will remain in his current position until a new CEO has been hired for the 276-store department store chain and an orderly transition has taken place. At that point, Bergren will transition to being chairman of the board. Following that, Tim Grumbacher, current executive chairman, will step down but remain a member of the board.
Bergren has been president and CEO of Bon-Ton since August 2004. He joined the company in November 2003 in conjunction with its acquisition of the Elder-Beerman Stores Corp., where he served as president and CEO.