John Derderian, president and COO for the last eight years at Iselin, New Jersey-based Allegiance Retail Services, has decided to reduce his responsibilities and transition to a part-time role of principal advisor for retail development and strategic business initiatives for the cooperative, beginning Oct. 1.
Chairman and CEO Lou Scaduto and the board of directors accepted this reduction in responsibilities and have appointed Joe Fantozzi, currently VP and CFO, as interim president.
In 2012, Derderian joined Allegiance Retail Services as VP of sales, marketing and member development. Prior to that role, he spent 33 years at Pathmark Stores, holding several senior management positions.
Derderian was awarded the Industry Achievement Award by the New Jersey Food Council in 2017.
In announcing this change, Scaduto stated, “We thank John for his years of service and profound accomplishments to successfully position Allegiance to continue to grow both membership and market share into the future.
“The board and I are very comfortable with naming Joe Fantozzi as interim president. His six years with Allegiance have been marked by improvements in all aspects of the business units he is currently responsible for, and his advocacy on behalf of the membership and understanding of the business is first rate.”
Scaduto will empanel a sub-committee of the board of directors to conduct a search for a permanent replacement, which is expected to be completed by the end of this year.
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