One-time Borders CEO Ron Marshall returns to the food industry as head of A&P

Former Borders CEO to lead A&P

MONTVALE, N.J. — Former Borders CEO Ron Marshall has been picked to lead Great Atlantic & Pacific Co., the supermarket chain said Wednesday.

Marshall, 54, who had been with Borders for about a year, announced Tuesday that he was leaving to join another company.

On Monday, Marshall will officially replace Christian Haub, who had served as interim CEO since Eric Claus left in October.

Marshall was once CEO of food distributor and retailer Nash Finch Co. and as chief financial officer of Pathmark Stores Inc., now a unit of the Great Atlantic & Pacific Tea Co. He also founded the private equity firm Wildridge Capital Management.

A&P, as most traditional supermarket chains, has faced slipping sales as nervous consumers cut back on higher-priced food.

Stores have been forced to slash prices to draw shoppers as consumers trade down, buy less and skip impulse purchases to stretch every dollar.

Grocers that acted quickly to draw in skittish consumers have ridden out the recession fairly well. A&P, on the other hand, has suffered.

In the company’s latest quarter it lost $559.6 million, or $14.35 per share, due to a hefty goodwill charge, while sales fell 8 percent to $1.96 billion.

A&P operates 433 stores in 8 states and Washington, D.C., under the names A&P, Waldbaum’s, Pathmark, Best Cellars, The Food Emporium, Super Foodmart, SuperFresh and Food Basics.

Shares rose 10 cents to $8.20 Wednesday.