DALLAS, Nov. 9 /PRNewswire/ -- Fleming (NYSE: FLM) announced today that
Neal J. Rider, executive vice president and chief financial officer, has
assumed the additional responsibility of leading the company's convenience-
store distribution operations.
"The convenience-store distribution business is among Fleming's fastest
growing opportunities," said Mark Hansen, chairman of the board and chief
executive officer. "It is important that this key area of Fleming's growth
receive special attention. Neal's business development and integration
skills, combined with his superior working knowledge of the convenience-store
distribution business, give me tremendous comfort that this area of our
business will continue on a fast track."
Rider's first priority will be to establish further operational synergies
and leverage economies of scale among Fleming's convenience-store divisions.
"This is a wonderful opportunity to expand the common operating platform for
our convenience-store distribution business," said Rider. "This is critical
as we execute our plans to grow this business segment both organically and
through acquisitions." Rider will work closely with Steve Davis, Fleming's
executive vice president and president - wholesale. "I view Steve as the best
distribution executive in the industry. His vast knowledge of the business
and insight will be invaluable to me as I assume these additional
responsibilities," said Rider.
Fleming currently operates dedicated convenience-store facilities in
Pennsylvania, Illinois, Wisconsin, Minnesota, and Kentucky. Additionally,
Fleming serves convenience store businesses from its full-line distribution
centers in Lubbock, Texas, and Sacramento, California.
Annualized convenience-store distribution business totals approximately
$2 billion, up from $700 million just two years ago, positioning Fleming as
the fourth largest c-store distributor in the country. The company's stated
goal is to continue the aggressive growth of this sector of its business
operations and ultimately become the second nationwide provider of these
services.
Mark Shapiro, senior vice president - finance and control, will assume
additional financial duties, including internal audit, tax, and the accounting
functions located at the company's Shared Services Center. Matt Hildreth,
senior vice president - finance and treasurer, will continue to focus on the
corporate finance, credit management, and mergers & acquisition activities for
the company. "In the past year we put particular emphasis on building an
exceptionally strong financial team," noted Rider. "Their impressive track
record of finance and accounting experience will serve us well."
Fleming is the industry leader in distribution and has a growing presence
in value retailing. Fleming's primary business is buying and selling
merchandise. The company serves approximately 3,000 supermarkets including
more than 700 North American stores of global supermarketer IGA and other
regional banners, 6,800 convenience stores and more than 2,000 supercenters,
discount, limited assortment, drug, specialty, and other businesses across the
country.
CONTACTS:
(Media) Shane Boyd 972.906.8824
(Media) Randy Hatcher 972.906.8823
(Investors-Equity) Meredith Anderson 972.906.8592
(Investors-Debt) Matt Hildreth 972.906.8126
SOURCE Fleming
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Related links:
http://www.fleming.com
Company News On-Call:
http://www.prnewswire.com/comp/901697.html
CONTACT:
media, Shane Boyd, +1-972-906-8824, or Randy
Hatcher, +1-972-906-8823, or investors-equity, Meredith Anderson,
+1-972-906-8592, or ivestors-debt, Matt Hildreth,
+1-972-906-8126, all of Fleming
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