Appoints Timothy R. LaBeau
to the Position of Senior Vice President of MerchandisingNEW YORK, July 9 /PRNewswire-FirstCall/ -- Duane Reade Inc. (NYSE: DRD) today announced that Timothy R. LaBeau has been appointed to the position of Senior Vice President of Merchandising and to the Company's Executive Committee, effective Monday, July 21, 2003.Mr. LaBeau, whose responsibilities will include managing purchasing, merchandising and inventory control activities, will report directly to Anthony J. Cuti, Chairman of the Board and Chief Executive Officer.
...Mr. LaBeau, 48, has extensive merchandising experience and has held several important management positions throughout his 25-year career in the consumer retail industry.He most recently served as Operating Group President at Fleming, Inc., a multi-billion dollar full line grocery wholesaler.Previously, he was President and Chief Executive Officer of American Sales Company, a subsidiary of Ahold USA, from 1998 to 2002.From 1994 to 1998, he served as Executive Vice President of Merchandising and Procurement at Ahold USA.Prior to this position, he spent 17 years working at ALDI Inc., a multi-billion dollar retail grocery store chain operating in 12 states.At ALDI Inc., he served as President from 1986 to 1994, General Manager from 1983 to 1986, and Operations Manager from 1980 to 1983.
Mr. Charboneau will partner with Mr. LaBeau
on related merchandise purchase activities and continue to report to Mr. Cuti.
...Commenting on the appointment, Anthony J. Cuti, stated, "We are very pleased to have Tim join Duane Reade as a valuable addition to our already strong senior management team.
new role, Tim
will play an important part in our ongoing effort to further strengthen our sales performance, purchasing processes, and inventory management.