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Bon-Ton opts to keep Bergren in top jobs

The Bon-Ton Stores will be led by Byron L. "Bud" Bergren for at least one more year, the retailer announced last week.

Bergren, Bon-Ton's president and chief executive officer since 2004, had been under contract to serve in those roles through Monday.

He then was "to serve in an important role to be determined by the board of directors" for the following year.

However, the retail chain said his contract has been amended to keep him as president and CEO through Feb. 5, 2012.

It will then automatically renew for successive one-year periods unless the company or Bergren chooses otherwise.

"Bud's vision, leadership and execution continue to guide us, and we look forward to his ongoing contributions," said Tim Grumbacher, Bon-Ton's executive chairman.

The action comes a month after The Bon-Ton gave an extension to Grumbacher, also lengthening his contract to Feb. 5, 2012. Bergren earned $2.79 million in 2009, the latest compensation information reported by The Bon-Ton.

He joined the company through its 2003 acquisition of Elder-Beerman, which he led as president and CEO.

The Bon-Ton has 275 stores in 23 states, including six in Western New York. Bon-Ton shares closed down 71 cents, or 6 percent, on Friday at $11.21. Its 52-week range is $6.08 to $18.63.

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