Bon-Ton (BONT) CEO Bud Bergren to Retire

The Bon-Ton Stores, Inc. (Nasdaq: BONT) today announced that Bud Bergren, age 65, has stated his intention to retire as President and Chief Executive Officer. Mr. Bergren will remain in his current position until the search for and hiring of a new chief executive officer is completed and an orderly transition has taken place. When a new chief executive officer is hired, Mr. Bergren, who is a current member of the Board of Directors, will transition to the position of Chairman of the Board of Directors of the Company. Upon Mr. Bergren’s transition to Chairman of the Board, Tim Grumbacher will step down as Executive Chairman and remain a member of the Board, continuing his focus on the strategic long-term direction of the Company. The transition of Mr. Bergren to Chairman of the Board is in accordance with the Board of Directors’ succession plan.

Bergren has been President and Chief Executive Officer of Bon-Ton since August 2004. He joined the Company in November 2003 in conjunction with the Company’s acquisition of The Elder-Beerman Stores Corp., where he served as President and Chief Executive Officer from February 2002 through August 2004. He was appointed Vice Chairman of Bon-Ton in November 2003. Prior to joining Elder-Beerman, Mr. Bergren served in various positions with Belk Stores, Inc., including as Chairman of a division.

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