Young to president and c.e.o. of The Penn Traffic Co.

by Eric Schroeder
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SYRACUSE, N.Y. — The board of directors of The Penn Traffic Co. has named Gregory J. Young president and chief executive officer, effective immediately. He succeeds Robert R. Panasuk, who has resigned.

"Since rejoining Penn Traffic in 2006, Greg has been an important architect of our plans and strategy for turning the company around and he's emerged as a key leader on the management team," said Robert J. Kelly, chairman of the board. "As c.e.o., Penn Traffic will continue to benefit from his leadership and three decades of industry experience. Greg has the board’s full support ‘and complete confidence."

Mr. Young, 51, most recently was executive vice-president and chief operating officer. He is a Syracuse native who first worked for Penn Traffic from 1974 to 1999, joining as a part-time associate in its stores and progressing steadily through the ranks to serve in senior management positions. He rejoined the company as chief marketing and distribution officer in July 2006 and was appointed c.o.o. in October 2006. Previously, he was with C&S Wholesale Grocers in Keene, N.H., for three years as vice-president of perishables and vice-president and general manager of C&S Retail. From 1999 to 2003 he was with The Great Atlantic & Pacific Tea Co.’s A&P Super Foodmart in Springfield, Mass., as group vice-president and general manager, vice-president of store operations and vice-president of sales and merchandising.

Penn Traffic operates 105 supermarkets in Pennsylvania, upstate New York, Vermont and New Hampshire under the BiLo, P&C and Quality trade names. Penn Traffic also operates a wholesale food distribution business serving approximately 120 independent operators and Penny Curtiss, a Syracuse-based commercial bakery.

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