SYRACUSE, N.Y. — Penn Traffic Co. here said yesterday that Tod A. Nestor, senior vice president and chief financial officer, will leave the company effective Sept. 18 to become the CFO of Fairway Market, the New York-based specialty grocery chain that has been expanding into the suburbs.
Eric Sattler, formerly Penn Traffic's controller, was named vice president of finance and will assume Nestor's duties on an interim basis while the company searches for a permanent successor, Penn Traffic said.
“Over the last two years, we’ve assembled a talented and experienced grocery and retail management team,” said Gregory J. Young, president and chief executive officer, Penn Traffic, in a prepared statement. “Together, we've made extraordinary strides in stabilizing the business, enhancing our merchandising and marketing strategies, strengthening our balance sheet, improving our cost structure, and resolving the company’s major legacy legal issues. We thank Tod for his contributions to our team and wish him the best in his new endeavor.”
Sattler has been with Penn Traffic since 1993 in a variety of senior finance positions and has been controller since 2005.
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