Sherwood to Take Post of A&P; President
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James Wood, chairman and chief executive of Great Atlantic & Pacific Tea Co., will relinquish the title of president to P. Louis Sherwood, the company announced Wednesday.
Sherwood, like Wood, joins the Montvale, N.J.-based supermarket chain from Grand Union Co., another chain based in Elmwood, N.J.
A&P; spokesman Michael Rourke said Wood, 55, “felt the need to bring in a young man who could take on the president’s role.” He added that the position has traditionally been held by someone other than the chairman and chief executive.
Sherwood, 43, and Wood worked together at Grand Union, a subsidiary of the British firm Cavenham Ltd., when Wood was chairman and chief executive. Wood was hired as chairman and chief executive of A&P; in 1980 and took on the additional title of president after the resignation of David Morrow in 1981.
A&P;, which is 51% owned by Tengelmann Group of West Germany, had revenue of $5 billion in its latest fiscal year.
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