LARCHMONT, N.Y. -- D'Agostino Supermarkets here said last week Walter D'Agostino has resigned as vice president, merchandising.
D'Agostino, 38, is the son of Nicholas D'Agostino Jr., chairman and chief executive officer, and the grandson of Nicholas D'Agostino Sr., the chain's late founder.
According to Nicholas D'Agostino, Walter D'Agostino left the 23-store chain "over typical management philosophy differences -- nothing more specific than that."
Contacted at his home, Walter D'Agostino agreed. "With three brothers and one father, it happens that not everyone wants to do the same thing."
Walter D'Agostino said he intends to sell his minority interest in the privately held company to family members.
He also said he has not decided what he will do next. "I'm not sure if I'll go back into retail, buy some stores or do some consulting."
His two brothers remain in the family business: Nicholas D'Agostino 3rd as vice president, administration, and David D'Agostino as director of the company's Internet program.
Nicholas D'Agostino said he and Nicholas D'Agostino 3rd will absorb Walter D'Agostino's merchandising responsibilities, "though it's not yet clear what issues must be resolved," he said. "A lot depends on the Kings situation."
Kings Supermarkets, Parsippany, N.J., is up for sale by London-based Marks & Spencer. According to D'Agostino, "We think we are one of two companies interested in buying the company, and we're ready to move once Marks & Spencer decides whether our offer is acceptable. We expect to hear from them any day."
D'Agostino's competitor for Kings is Red Apple Group, New York, which has been given an exclusivity period to raise money. Red Apple is trying to raise the funds through a bond offering.