HEAR BALMUTH HEADED FOR BOB’S
NEW YORK — Marc I. Balmuth, former president of Caldor, is reportedly heading for Bob’s Stores, a moderate apparel chain operated by Melville Corp. Sources said he will succeed Michael Freidheim as chief executive officer.
Balmuth left Caldor last August when his contract expired. The move came a month after Caldor, reorganizing under Chapter 11, decided to withdraw a controversial $20 million executive retention bonus program. However, Balmuth said in a statement he was leaving for personal reasons.
Balmuth joined Caldor as president in 1987 and served on the board since 1989. From 1985 to 1987, he was executive vice president for Venture Stores.