Keith E. Plowman, chief financial officer of The Bon-Ton Stores, Inc., will retire in August this year. He will consult with the company for 18 months after his official retirement. The Bon-Ton board has started a search for his replacement.
“I have greatly enjoyed my tenure with Bon-Ton,” Plowman said in a statement. “The Company is fortunate to have many talented associates and it has been my pleasure to work with them throughout my many years here. I would also like to express my appreciation for the support of Tim Grumbacher and Mike Gleim, as well as the collective board, since my appointment as chief financial officer of Bon-Ton. Their guidance and partnership were extremely valuable as we navigated through many opportunities and challenges.”
Plowman, 55, joined Bon-Ton is 2003 and has been CFO since 2005.
“The company has made great strides under Keith’s financial leadership and, on behalf of the entire board of directors, I offer Keith our heartfelt thanks for his outstanding work at Bon-Ton,” said chairman Tim Grumbacher. “Keith was instrumental in the planning, financing and execution of the Company’s significant acquisitions in the prior decade when our store count grew four-fold in a three-year period. The progress made under Keith’s leadership is reflected in the great potential of our store base today. We wish him the best in his future endeavors.”
Bon-Ton operates 272 stores in 26 states.