WOODBRIDGE, N.J. -- Anthony J. Cuti resigned last week as president of Pathmark Stores here to become chairman and chief executive officer of Duane Reade Inc., a New York-based, 59-unit drug store chain.
Cuti will remain a member of Pathmark's board of directors. Named president in 1993, he joined Pathmark in 1990 as executive vice president and chief financial officer. When Jack Futterman retired as Pathmark chairman last month, observers said it was clear that the company did not plan to name Cuti to fill the position as it began seeking a successor from outside the Pathmark organization. Jack Boyle, a Pathmark board member, will continue as interim chairman and CEO until a permanent successor is named -- probably by the end of the year and maybe sooner, a company spokesman told SN. He said it would be up to the new top executive to determine the organization's structure, including a possible successor to Cuti as president. At Pathmark, Cuti managed the company's 36 freestanding drug stores -- which have since been sold -- and its pharmacy operations. Cuti succeeds Barry D. Weston, Duane Reade president and chief operating officer, who has served as interim CEO since Bruce Weitz resigned as chairman and CEO in September.