NEW YORK — Bon-Ton Stores Inc. said chief executive officer Tim Grumbacher will resign from that position by the middle of next year, but will continue as chairman of the board.

Grumbacher, 63, became ceo in 2000 and has been chairman of the board since 1991. He’s been a member of the board since 1967, and also served as the company’s president from 1977 to 1989.

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