Kathryn Bufano will resign as president and chief executive officer of The Bon-Ton Stores Inc. when her contract expires on Aug. 25. She will be replaced by Bon-Ton chief operating officer, William Tracy.
In addition, Bon-Ton’s retiring board chairman Tim Grumbacher will be succeeded by his wife, fellow board member Debra Simon.
Like many retailers, Bon-Ton, the parent company of Boston Store with headquarters in Milwaukee and York, Pennsylvania, has struggled in recent years to attract customers as consumers shift more of their spending online and spend less time in stores. Last week, S&P Global Market Intelligence named Bon-Ton as one of the 10 retail companies most at risk to file for bankruptcy.
Bon-Ton reported a net loss of $63.4 million in 2016, and a net loss of $57.1 million in 2015.
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