Bud Bergren is preparing to retire as president and chief executive officer of The Bon-Ton Stores, Inc. Bergren, 65, has agreed to remain in his position until the company hires a successor and an “orderly transition” takes place, the company said Monday. At that point, Bergren will become chairman of the board and Tim Grumbacher will step down as executive chairman. Grumbacher will remain a member of the board and will continue to work on strategic long-term direction for the York, Pa.-based retailer.

This story first appeared in the November 15, 2011 issue of WWD. Subscribe Today.

Bergren has been at the helm of Bon-Ton since 2004. He had been president and ceo of Elder-Beerman Stores Corp., which Bon-Ton acquired in 2003. Prior to that, he served in various positions with Belk Inc. Bergren said: “Until we appoint the new chief executive officer, I will be focused on and actively engaged in the continued roll-out of our strategic initiatives and the strengthening of the operations of our company.”

Bon-Ton operates 276 department stores in 23 states.

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