Retail News Breaks Archives
Duane Reade CEO to head foodservice distributor
August 13th, 2010
ROSEMONT, Ill. – John Lederer, chairman and chief executive officer of Duane Reade, next month is slated to join U.S. Foodservice as president and CEO.
The Rosemont, Ill.-based foodservice distributor said Friday that Lederer is slated to join the company on Sept. 8. He will also serve on the board of directors.
"John is an incredibly accomplished executive whose personal integrity and leadership style are a great fit for the culture at U.S. Foodservice," Edward Liddy, chairman of U.S. Foodservice, said in a statement. "John also has tremendous depth in enhancing the customer value proposition and improving the customer experience, and I'm confident he will be a terrific leader for U.S. Foodservice."
With annual revenue of about $19 billion, U.S. Foodservice offers more than 43,000 national, private-label and signature-brand items and services to more than 250,000 customers, including neighborhood restaurants, hospitals, schools, colleges and universities, hotels, government entities and other eating establishments. The company is jointly owned by funds managed by Clayton, Dubilier & Rice LLC and Kohlberg Kravis Roberts & Co.
Lederer joined Duane Reade in 2008 and led a companywide revitalization effort. Before going to Duane Reade, he spent 30 years at Loblaw Cos., Canada's largest supermarket retailer and wholesaler. He held a number of leadership roles at Loblaw, including president from 2001 to 2006.
Duane Reade was acquired in mid-February by Walgreen Co. in a nearly $1.1 billion deal, which closed in early April.
Giving an update on the integration process in early April, Walgreens said Lederer will continue to direct the company's operations and work closely with John Spina, Walgreens' vice president of retail integration and new format development, on the integration effort.
In an interview in March, Lederer told Chain Drug Review that he and other Duane Reade senior managers are committed to staying the course under the chain's new owner.
And when the acquisition was announced, Walgreens said it expects to keep several members of Duane Reade's senior management team, with Lederer continuing to direct operations in New York and reporting directly to Walgreens CEO Greg Wasson.
Late last month, Duane Reade disclosed that Joe Magnacca was named president of the metropolitan New York drug store chain. Magnacca formerly was executive vice president and chief merchandising officer.