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MONTVALE, N.J. — Sam Martin, who was president and chief executive officer of A&P, has left the company, according to press reports. He has been replaced on an interim basis by chairman Gregory Mays.
Sam Martin, who was president and chief executive officer of A&P, has left the company, according to press reports. He has been replaced on an interim basis by chairman Gregory Mays.
Martin had taken over as CEO of the troubled supermarket chain in July 2010, succeeding Ron Marshall. A&P filed for bankruptcy protection in December of that year after turnaround measures failed to improve financial results.
Equity and debt investment totaling $490 million from a consortium including Yucaipa Cos., Mount Kellett Capital Management and Goldman Sachs Asset Management LP enabled the company to emerge from Chapter 11 in March 2012 as a private company. A number of merchandising and marketing initiatives followed, including an ad campaign that utilized Martin as the primary spokesman and touted the chain as a neighborhood food and drug chain.
